FSS Governor: "We will raise the supervisory framework for the digital asset market to the level of traditional finance"

Lee Chan-jin, Governor of the Financial Supervisory Service, said he will build a supervisory framework for digital assets at the level of traditional finance.

On the 21st (local time), at the National Assembly audit by the Standing Committee on Political Affairs, Lee said, "We are preparing the digital asset supervisory framework to be comparable to legacy (traditional) finance," and added, "We are preparing so that it can be reflected in the second phase of virtual asset legislation."

Lee said, "Practical preparations are being carried out centered on the Digital·IT deputy governor line, and specific plans are being prepared by a task force (TF) in consultation with the Financial Services Commission," adding, "As investments in personnel and equipment are needed, the attention of the National Assembly is necessary."

He also said, "Through a meeting with the chair of the U.S. Securities and Exchange Commission (SEC) we discussed international cooperation," and "We will pursue institutionalization based on the prior experiences of major countries."