The Korean Financial Supervisory Authority will formulate standards for virtual asset listing procedures, issuance volume/circulation volume, etc.

South Korea's financial regulatory authorities will formulate standards for virtual asset listing procedures, internal controls, issuance/circulation volume, etc. based on the accompanying opinions of the "Virtual Asset User Protection Act" enacted in June this year. The summary is expected to be released around January next year when the results of the Congressional Reporting Research Service are released. In addition, the Financial Supervisory Commission explained that the research services currently being conducted will refer to overseas virtual asset disciplinary cases and regulatory frameworks of international organizations, and when necessary, incorporate regulatory requirements based on virtual asset industry surveys and opinion collection. (Edaily)