Financial Services Commission Chairman Kim Byung-hwan: "We will accelerate the preparation of the second phase of virtual asset legislation"

Financial Services Commission Chairman Kim Byung-hwan announced that he will promptly pursue the second phase of virtual asset legislation.

On the 7th, Chairman Kim stated at a government-party consultation meeting on 'Virtual Asset Market Development Policy Tasks' held at the National Assembly, "We will swiftly prepare the second phase of the Virtual Asset Act that encompasses business entry and operational regulations, as well as virtual asset distribution disclosure regulations."

This is a response to the expectation that global virtual asset regulatory changes will accelerate following the recent inauguration of the Trump administration in the United States. Chairman Kim also added, "We will actively participate to ensure that the token securities issuance bill submitted to the National Assembly can be discussed promptly."