English Translation:

ChainCatcher reports that the Financial Services Commission (FSC) of South Korea has clearly stated its strong support for the second phase of virtual asset legislation.

Kim Sung-jin, Director of the Virtual Asset Division at the FSC, said that the policy direction of the United States will be a key reference for South Korea's virtual asset legislation. He also emphasized the need for a strategic approach in the areas of security tokens and central bank digital currencies (CBDCs) to accelerate the discussion of amendments to related bills in the National Assembly, such as the "Capital Market Act."

The South Korean authorities plan to focus on the operational activities and qualification requirements of virtual asset service providers in the second phase of the legislation.

The National Assembly also recognizes digital asset legislation as an urgent task. A member of the National Assembly's Political Affairs Committee stated that digital assets have the potential to create a new financial order and bring both opportunities and challenges to the South Korean economy.