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- Cryptoquant CEO Ki Young Ju to conduct seminar for FSS (Korean SEC).
- Blockchainist Assistant Professor Jaewoo Cho suggests on-chain database for analysis, in response to Young’s tweet.
- The National Assembly of South Korea is expected to pass a digital asset regulation bill.
Cryptoquant co-founder and CEO Ki Young Ju tweeted “What is the most critical problem in this industry?,” asking his followers what topics he should cover at the FSS seminar.
FSS(금융감독원, Korean SEC) asked me to do a seminar this month.What is the most critical problem in this industry? Please let me know. I'll cover it at the seminar.— Ki Young Ju (@ki_young_ju) April 1, 2023
Young was approached by the FSS (Korean SEC) to conduct a seminar, he mentioned in his tweet. In response, Blockchainist Assistant Professor at Hansung University, Jaewoo Cho shared that Building an on-chain database and supporting analysis personnel training would be a good subject.
Young replied,
I agree. If the FSS doesn’t see the on-chain, I think it’s the same as not monitoring bank transactions:)
South Korea is making severe progress when it comes to crypto regulation. A Korean media outlet report reveals that the National Assembly of the country is anticipated to pass the digital asset market regulation bill. The report suggests that the Political Affairs Committee’s approval of the bill has brought optimism that South Korean lawmakers will succeed in passing the legislation, following unsuccessful attempts in the past.
Rep. Kim Hee-gon, a member of the first subcommittee of South Korea’s Political Affairs Committee, recently disclosed that the differences between opposition and ruling party members had been narrowed, thus increasing the country’s chances of passing a digital asset governance law. This positive development has raised prospects for the successful passing of the legislation.
Reportedly, Hee-gon stated that on March 28th, the first subcommittee successfully addressed the concerns related to the bills and reduced the differences between its members. Consequently, it is anticipated that the legislation will be approved in April.
The representative cautioned that even after the bill’s passage, certain aspects might need to be revised. Additionally, analysts quoted in the Korean media report emphasized that the recent failure of Terraform Labs illustrated to lawmakers the significance of having proper laws regulating the digital asset industry. Apart from the current draft bill, South Korean legislators reportedly deliberated on the 18 previous bills concerning virtual assets.
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