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Policy News August 9, 2022

South Korean, U.S. and EU officials to discuss crypto-asset-related legislation on Aug. 11

South Korea’s ruling party and financial authorities will hold a Korea-US-EU Global Policy Conference on Digital Assets with U.S. and European Union officials on Aug. 11 at the South Korean National Assembly to discuss crypto-asset-related legislation.

Sung Il-jong, Chairman of the National Power Policy Committee of the ruling party of South Korea, Kim Yong-duo, Director of the Digital Finance Innovation Bureau of the Korea Financial Supervisory Service, Caroline Palm, a permanent member of the CFTC of the United States, and Peter Culstons, an advisor to the European Commission, will attend the meeting.

It is reported that South Korea currently has 13 bills related to virtual assets pending in the National Assembly. Earlier yesterday, Kim Joo-hyun, chairman of the Korean Financial Services Commission, announced that the Financial Services Institute (FIU) of the Korean Financial Services Commission will strengthen the inspection and supervision of virtual asset (cryptocurrency) operators.

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