South Korean Regulators Form Task Force for Virtual Asset Listing Guidelines

The South Korean financial regulators recently formed a task force on the listing of virtual assets and began discussing the "Guidelines for Listing, Continued Listing, and Delisting (Guidelines)." The task force consists of both public and private sectors, including financial authorities and external experts.

A financial regulator official stated, "We plan to finalize the guidelines in July of next year, several months before the enforcement of the Virtual Asset User Protection Act, and report them to the National Assembly," adding, "The draft of the guidelines is currently under review (under the supervision of the Financial Services Commission) to maximize their effectiveness while considering whether the industry can comply with them through self-regulation."

The financial authorities are pushing for the guidelines due to the damages and confusion caused to users by the frequent listing and delisting of virtual assets.