South Korea
Odaily
South Korea's FSS and FIU Advance Joint Framework for Crypto-Asset Regulation Under Phase-2 Digital Asset Basic Act
- The Financial Supervisory Service (FSS) and the Financial Intelligence Unit (FIU) are coordinating to establish a unified crypto-asset regulatory system in South Korea.
- A second-phase draft of the Digital Asset Basic Act is being prepared to strengthen and expand the existing regulatory framework for digital assets.
- The initiative reflects South Korean regulators' continued push to formalize oversight of crypto markets beyond the current first-phase legal provisions.