South Korea Poised To Launch Digital Asset Taskforce Following Terra Crash
According to local media reports, South Korea plans to launch a digital asset watchdog by June.The country will set up a Digital Assets Committee to serve as a “control tower” for space. The committee will oversee the regulation of space until the government is able to draft fundamental legislation on digital assets.
The government has also accelerated its efforts to pass cryptocurrency regulation following the recent Terra crash, which has led to an increasing number of regulatory measures.According to a report by South Korea’s NewsPim news agency, an official said the committee would be introduced in the last week of June.The committee monitors the markets and establishes guidelines on listing, disclosure, and investor protection. It will also consult a panel made up of the top five South Korean cryptocurrency exchanges – Upbit, Bithumb, Coinone, Cobit, and Gopax.
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