South Korea to Establish Virtual Asset Department by the End of June to Safeguard User Assets Prohibiting Public Servants from Holding Virtual Assets

According to sources in the financial investment industry, the Financial Supervisory Commission is expected to establish a Virtual Assets Division by the end of June and complete the appointment of the division chief. To this end, the Financial Supervisory Commission has applied to the Ministry of Administration for organizational structure adjustments. Officials from the Financial Supervisory Commission stated, “Originally, the policies related to virtual assets were the responsibility of the Financial Innovation Division, but the newly established Virtual Assets Division will also be under the Financial Innovation Division.”