South Korea plans to set up a virtual asset committee to discuss issues such as the approval of virtual asset spot ETFs and the licensing of crypto e

The South Korean Financial Services Commission announced plans to establish a virtual asset committee to discuss major issues such as the approval of virtual asset spot ETFs and licenses for virtual asset exchanges in a report on the audit work status of the National Assembly's Political Committee.

In addition, the Financial Services Commission has established a non-profit foundation (Digital Asset User Protection Foundation) that receives user assets and returns them to businesses that have closed or suspended operations, and is conducting updated report reviews for businesses whose reporting periods have expired.