Chairman of the South Korean Financial Affairs Commission: Will speed up the legislative process of allowing companies to invest in cryptocurrencies and stablecoins

Odaily reports that the chairman of the Financial Services Commission (FSC) of South Korea, Kim Byung-hwan, stated that they plan to announce their position on allowing companies to invest in virtual assets (cryptocurrencies) as soon as possible, and are also accelerating the preparation of a stable coin regulatory system and the second phase of legislation. When asked whether the domestic authorities' stance on virtual assets will change with the new Trump administration, Kim Byung-hwan said: "People have always been concerned about finding a balance between promoting the virtual asset industry and protecting investors. Currently, we are more focused on investor protection." However, there are reports that he is closely monitoring the Trump administration's stance on virtual assets. He stated, "Given these commitments, we are likely to take a more proactive stance (on virtual assets)." Additionally, in South Korea, companies are currently unable to open real-name accounts related to exchanges, and therefore cannot invest in . Therefore, the authorities plan to gradually allow corporate accounts. Regarding the sanctions on , he explained: "Yesterday (the 21st) was the first time we conducted a sanctions review. We will have a thorough discussion, and the results will be announced at that time, and I cannot comment on the extent of the sanctions." However, he stated that they will consider the potential impact on users.