South Korea to Establish Virtual Asset Division by the End of June Aimed at Protecting User Assets Prohibiting Civil Servants from Holding Virtual Assets

According to sources in the financial investment industry, the Financial Commission is expected to establish a Virtual Assets Department by the end of June, and complete the appointment of the department head. In this regard, the Financial Commission has applied to the Ministry of Administration for organizational structure adjustments. A person related to the Financial Commission stated, “Originally, the Virtual Assets policy was under the responsibility of the Financial Innovation Department, but the newly established Virtual Assets Department will also be under the Financial Innovation Department.”