South Korea plans to establish Virtual Asset Division by the end of June to protect user assets prohibiting civil servants from holding virtual assets

According to sources in the financial investment industry, the Financial Supervisory Commission is expected to establish a Virtual Assets Division by the end of June and complete the appointment of the division chief. To this end, the Financial Supervisory Commission has applied to the Ministry of Administration for organizational structure adjustments. Officials from the Financial Supervisory Commission stated, “Originally, virtual asset-related policies were under the responsibility of the Financial Innovation Division, but the newly established Virtual Assets Division will also be under the Financial Innovation Division.”