Financial Supervisory Service: 'Trip to the U.S. SEC, related to disclosure review.'
The Financial Supervisory Service (FSS) clarified that reports suggesting they are planning a trip to the U.S. Securities and Exchange Commission (SEC) to assess the security nature of virtual assets (cryptocurrencies) are partially inaccurate.
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Hyeonsu “Elliot” Jin, managing partner at Decent Law Firm, commented, "Since much of South Korea's legal framework has already been adopted from the U.S., introducing independent policies on virtual assets carries significant risks. The SEC's assessment and regulation of virtual assets as securities are likely to be similarly applied in South Korea as well."
