TechFlow news — On March 7, according to Yonhap News Agency, Kim Byung-woo, Chairman of South Korea's Financial Services Commission, stated that the government will "rapidly develop the second-phase legislative plan for the Virtual Asset Act, including regulations on operator准入 and disclosure requirements for virtual asset circulation."
The Chairman noted that with the incoming Trump administration in the United States, global virtual asset regulatory frameworks are expected to accelerate their evolution, prompting South Korea to correspondingly speed up its virtual asset policy agenda.
Lee Bok-hyun, Governor of the Financial Supervisory Service, said that due to the new virtual asset policies proposed by the Trump administration, the global regulatory environment is expected to undergo drastic changes. Therefore, it is necessary to swiftly advance the second-phase legislation and enhance self-regulatory standards prior to formal legislation.
