As the Korean cryptocurrency Luna and Terra USD plunged every day, the financial authorities began to inspect emergency trends as the cryptocurrency market shaken.

On the 15th, the Financial Services Commission and the Financial Supervisory Service began to inspect the emergency trends after the Luna crisis broke out, and will speed up the enactment of related laws by watching the regulatory trends of major countries.

However, virtual asset transactions are left to private autonomy, so the government cannot intervene.

In response, the financial authorities plans to create the ‘Digital Asset Basic Act’ to protect investors, and to establish sub -regulations such as the Enforcement Decree by 2024 to implement full -scale law.

In addition, the introduction of central bank digital currency (CBDC) will be considered in conjunction with digital asset institutionalization. In the first half of this year, the Bank of Korea’s mock test is expected to be discussed.

The creation of ICO conditions (ICO) conditions is also promoted.

Securities -type coins will be regulated so that they can be issued in accordance with the Capital Markets Law Distribution System, where investor protection devices have been established, and non -residential coins will establish discussions such as issuance, listing, and unfair transactions through discussions on legislation..