South Korea's finance minister pledged reforms following mishandling of cryptocurrencies.

South Korean Deputy Prime Minister and Minister of Finance and Economy Koo Yoon-cheol pledged a comprehensive reform of how the country's public institutions handle digital assets. A series of recent incidents have exposed weaknesses in the government's custody and oversight of seized cryptocurrencies. Koo stated that he will cooperate with agencies such as the Financial Services Commission and the Financial Supervisory Service to examine the current status and management practices of digital assets held and managed by the government and public institutions through seizures and other measures, and will take swift action to strengthen digital asset security and prevent similar incidents from recurring. He emphasized that government-held digital assets are limited to those obtained through legal enforcement means such as tax seizures or criminal investigations. (Decrypt)