More Crypto Regulation Incoming in South Korea Following Terra Collapse

26.05.2022 08:26
by Maksym Prykhodko
1 min read

KBS reported that the People’s Power Party – the second-largest party in parliament and the party of President Yoon Suk-yeol – and the government held a joint “Emergency Inspection Meeting for Virtual Assets” at the National Assembly on May 24.

The meeting concluded with the announcement that the government would look to revise existing crypto regulations – and will likely focus on policing the way that exchanges list and delist coins.

At present, listing policies are formulated at the discretion of exchanges. The situation is quite different across the sea to the East in Japan, where token listing applications must be approved by a self-regulating body.

Terra collapse appears to have become a galvanizing incident in South Korea – and even the crypto-keen presidency looks bound to act on it.

Author

  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didn’t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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