“Virtual Asset Authority” FSC Sitting on Its Hands on the “WEMIX Incident”

The Financial Services Commission, which oversees the Korean virtual asset market with a worth of 55 trillion KRW, has come under criticism for its unpreparedness in facing the “WEMIX Incident.” Regarding the recently proposed first bill of the Digital Asset Act, partner attorney Ohoon Kwon commented, “The lack of clear legal outline on what constitutes unfair acts and the lack of minimum regulations on the issuance of real-name bank accounts and digital assets are the important topics in the bill’s deliberation.”

URL: “Virtual Asset Authority” FSC Sitting on Its Hands on the “WEMIX Incident”