In a bid to strengthen international cooperation on digital asset regulations, South Korea’s chief financial regulator will meet with US Securities and Exchange Commission (SEC) Chairman Gary Gensler in Washington DC next month, South Korean news outlet ChosunBiz reported.
South Korean Financial Supervisory Service (FSS) Chairman Lee Bok-hyeon and SEC Chairman Gensler concluded their discussion on an issue that is increasingly critical for Korean regulators. cryptocurrency They will focus on their regulations. This meeting will be the first of its kind between the two leaders.
“We are coordinating specific programs and agendas with the aim of strengthening cooperation between the two institutions,” FSS said.
This meeting comes at a crucial time as South Korea is developing new digital asset legislation this year to increase consumer protections for crypto investors. The new laws are scheduled to come into force in July 2024.
South Korea, where nearly a quarter of adults ages 18 to 60 invested in crypto over a six-month period, according to KuCoin data. Bitcoin and one of the largest markets for cryptocurrency trading.
*This is not investment advice.
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