South Korea plans to establish a Virtual Assets Committee to discuss issues such as the approval of virtual asset Spot ETF and the licensing of encryption exchange.

The Golden Finance reported that the Financial Services Commission of South Korea announced plans to establish a virtual asset committee in the audit work report of the National Assembly’s Political Affairs Committee, to discuss major issues such as the approval of virtual asset Spot ETF and the licensing of virtual asset exchange. In addition, the Financial Service Committee has also established a non-profit foundation (digital asset User Protection Foundation), which receives user assets and returns them to companies that have closed or suspended operations, and is conducting updated report reviews of companies with expired reporting periods.