Korean Financial Regulator Highlights Future Growth Of Virtual Assets Market

According to Foresight News, Lee Hyun-deok, Director of the Virtual Asset Supervision Bureau at the Financial Supervisory Service of South Korea, spoke at the Seoul Fintech Week 2024 event. He noted that while the current virtual asset market has a limited impact on financial stability, it is expected to expand significantly in the future. Lee Hyun-deok addressed the recent implementation of the Virtual Asset User Protection Act, commonly referred to as the Virtual Asset Act. He emphasized the need to address regulatory gaps within the act by enhancing industry self-regulation standards. This approach aims to ensure a more robust and secure framework for the growing virtual asset market.