FSC Chairman of South Korea: Will accelerate the drafting of the second phase of the cryptocurrency bill

According to Yonhap News Agency, South Korean financial authorities will accelerate the drafting process of the second phase of the Virtual Assets Act, which will involve issues such as corporate regulation and token circulation disclosure. Kim Byung hwan, Chairman of the Financial Services Commission (FSC) of South Korea, stated at a congressional meeting that the global cryptocurrency regulatory landscape is expected to rapidly change with the recent actions of the Trump administration in the United States. He emphasized that it is necessary for South Korea to keep up with the pace of these global developments.