PANews, June 22 – According to Edaily, South Korea’s top financial and foreign exchange regulatory authorities have made clear their stance against immediately relaxing virtual asset regulations. This statement came in response to a review of current rules by the Ministry of SMEs and Startups.

On June 22, after an internal review, the Financial Services Commission, the Ministry of Economy and Finance, and the Bank of Korea concluded that it would be difficult to advance the regulatory easing measures requested by the industry. The regulators pointed out that the policy tone has not yet shifted toward deregulation, and many of the proposed changes cannot be implemented without amending existing laws. The review stemmed from a meeting held by the Ministry of SMEs and Startups with industry representatives on June 8. An official from the Financial Services Commission stated that the agency is currently listening to industry opinions on specific detailed rules, rather than planning to relax regulations, adding that nothing has been finalized yet. An official from the Ministry of Economy and Finance also said that the ministry is not currently conducting any review related to virtual asset regulatory easing.