Chairman of the Financial Services Commission "The Phase 2 Virtual Asset Bill will be prepared by the regular National Assembly session"
Summary
- Byung-Hwan Kim, Chairman of the Financial Services Commission, stated that he will prepare the Phase 2 Virtual Asset Bill in time for discussion at the regular session of the National Assembly.
- He announced that the bill will include measures for the formalization and regulation of virtual assets.
- He mentioned that coordination of opinions on stablecoin-related matters currently under discussion is required.
It has been revealed that the Phase 2 Virtual Asset Bill (Business Regulation Act) will be ready by the upcoming regular session of the National Assembly.
On the 26th (local time), Byung-Hwan Kim, Chairman of the Financial Services Commission, stated at the 2nd plenary meeting of the National Assembly’s Political Affairs Committee, "We will prepare so that the Phase 2 Virtual Asset Bill can be discussed during the upcoming regular session of the National Assembly."
In response to a question about the FSC's position on the Business Regulation Act, he said, "We plan to include the establishment of a formal system and regulatory measures for virtual assets as a business in the Phase 2 Bill," adding, "There is a need to coordinate opinions on how to address the recently discussed stablecoins."
He added, "As soon as the discussions are concluded, the government will organize its position and provide an update."
Son Min
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