South Korea to Establish Virtual Asset Department by End of June to Protect User Assets Prohibiting Government Officials from Holding Virtual Assets

According to sources in the financial investment industry, the Financial Commission is expected to establish a Virtual Assets Department by the end of June, and complete the appointment of the department head. To this end, the Financial Commission has applied to the Ministry of Administration and Security for organizational structure adjustment. Officials from the Financial Commission stated, “Originally, the responsibility for virtual asset-related policies was under the Financial Innovation Department, but the newly established Virtual Assets Department will also be under the Financial Innovation Department.”