South Korea's KDIC Forms Team To Review Cryptocurrency Assets

According to PANews, the Korea Deposit Insurance Corporation (KDIC), a quasi-governmental agency in South Korea dedicated to safeguarding depositors' interests and maintaining financial system stability, has established a new team to specifically review cryptocurrency-related assets. This initiative follows the October amendment of the Depositor Protection Act, which aims to transform the agency into a more digitally-focused organization. The amendment provides a legal framework for examining the financial assets of virtual asset service providers (VASPs).