South Korea's Financial Services Commission Plans to Expand Regulatory Sandbox to Virtual Assets

PANews, June 22 – According to Digital Asset, South Korea’s Financial Services Commission plans to extend the scope of its regulatory sandbox to include the Virtual Asset User Protection Act. The move is part of a broader initiative to prepare the financial industry for the future by expanding services to reflect changes in the financial environment and market demand. At a recent event chaired by Financial Services Commission Chairman Lee Eok-won, the commission stated that it will continue to identify and incorporate laws related to emerging sectors and services, such as the Internet Banking Act and the Virtual Asset User Protection Act, into the regulatory sandbox framework.

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