2024.09.05
Financial Services Committee Vice Chairman Meets With U.S. SEC Commissioner
Kim So-young, vice chair of South Korea's Financial Services Commission, and Mark Uyeda of the U.S. SEC discussed the regulation of non-bank financial institutions (NBFIs) and virtual assets. They exchanged views on the potential impact of the Financial Stability Board’s proposed NBFI regulations. Uyeda showed interest in South Korea’s approach to balancing innovation and user protection, which Kim attributed to inter-ministerial collaboration.
Kim emphasized the importance of ongoing communication between both countries to address the evolving financial landscape and balance virtual asset regulation with innovation.
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