South Korea Launches Discussions for Crypto Regulation by 2025

South Korea is advancing its crypto regulation framework, aiming to draft a bill by the second half of 2025. This follows a meeting by the Financial Services Commission (FSC) to identify key focus areas for the regulations.

Key Points

The FSC prioritizes investor protection and clear regulations.
Current laws require exchanges to store at least 80% of user deposits in cold wallets.
The new framework will address broader market needs, including service providers and users.
Discussion topics included stablecoin regulations and transparency for cryptocurrency listings.
South Korea ranks as one of the largest global crypto markets, with Upbit being the third-largest exchange by trading volume.
Regulation aims to strengthen South Korea's position in the global crypto landscape and mitigate risks for investors.