Representative Kwon Seong-dong: "Appropriate system improvements needed, such as tokenization of financial products and introduction of virtual asset ETFs"

Kwon Seong-dong, floor leader of the People Power Party, emphasized the need for system improvements for the development of the virtual asset (cryptocurrency) market.

On the 7th, Floor Leader Kwon said at a meeting between the party, government, and public on 'Policy Tasks for the Sound Development of the Virtual Asset Market' held at the National Assembly, "We need to analyze global trends such as tokenization of financial products and introduction of virtual asset spot ETFs, and make appropriate system improvements that are neither excessive regulation nor excessive neglect."

He added, "In Korea, the virtual asset trading volume once exceeded the securities trading volume, showing how established the market has become," emphasizing that "policies that consider both user protection and market development are necessary."

Meanwhile, regarding exchanges that recently received heavy sanctions from financial authorities, Floor Leader Kwon pointed out, "It is a serious problem that they allowed transactions without customer verification despite concerns about money laundering. As they have grown into global exchanges, they must now meet international standards for responsibility."