Editor's PiCK
Democratic Party Considers Establishing 'Digital Asset Agency' Dedicated to Virtual Assets
Summary
- The Democratic Party of Korea announced plans to establish the Digital Asset Agency to create a dedicated body for virtual assets.
- This is stated as a measure to efficiently introduce and manage stablecoins.
- The agency aims to secure market value stability and reliability, and to integrate the virtual asset ecosystem into the institutional framework to promote investment.
The Democratic Party of Korea is actively considering the establishment of a 'Digital Asset Agency' (tentative name) dedicated to handling virtual assets (cryptocurrencies).
According to industry sources on the 20th (local time), the Democratic Party of Korea is actively considering the establishment of an independent body, the 'Digital Asset Agency', to handle virtual asset-related tasks if candidate Lee Jae-myung is elected.
This is one of the detailed plans for the introduction of a Korean won-based stablecoin, one of Lee's main pledges. Instead of the Bank of Korea and the Financial Services Commission, which were previously mentioned as candidates for granting stablecoin licensing rights, the plan is to grant these rights to the new agency to achieve efficient management and supervision of stablecoins.
Furthermore, the agency aims to simultaneously secure market value stability and reliability, and to integrate the virtual asset ecosystem into the institutional framework to promote investment.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
