In a bid to strengthen international cooperation on digital asset regulations, South Korea's chief financial regulator will meet with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler in Washington DC next month, South Korean news outlet ChosunBiz reported.
South Korean Financial Supervisory Service (FSS) Chairman Lee Bok-hyeon and SEC Chairman Gensler will focus their discussions on cryptocurrency regulations, an issue that is becoming increasingly critical for Korean regulators. This meeting will be the first of its kind between the two leaders.
“We are coordinating specific programs and agendas with the aim of strengthening cooperation between the two institutions,” FSS said.
This meeting comes at a crucial time as South Korea is developing new digital asset legislation this year to increase consumer protections for crypto investors. The new laws are scheduled to come into force in July 2024.
South Korea is one of the largest markets for Bitcoin and cryptocurrency trading, with nearly a quarter of adults aged 18 to 60 investing in crypto over a six-month period, according to KuCoin data.
*This is not investment advice.
