South Korean Authorities Will Create A Digital Assets Committee — Media
The South Korean authorities have decided to establish an interim Digital Assets Committee.
According to local media, the new body will be formed from the existing Virtual Assets Ad Hoc Committee and will launch in June. The Interim Committee will work until a separate permanent department is created.
The authority of the regulator includes establishing criteria for listing cryptocurrencies, protecting investors, monitoring the crypto market and unfair trading practices, as well as other tasks.
Recently, a South Korean law firm announced its intention to sue Terraform Labs CEO Do Kwon on behalf of ordinary investors who lost money due to the fall of TerraUSD (UST).
Earlier, South Korean President Yoon Seok-yeol said he would push for a delay in introducing taxation of income from investments in cryptocurrencies until a new set of rules called the Digital Assets Basic Law (DABA) is passed.