Vice Chairman Kim So-young presided over the kickoff meeting of the joint taskforce on digital asset on August 17. The private-public joint taskforce on digital asset was launched with aims to promote discussion and information sharing between private sector experts, relevant government authorities and related institutions for seeking government-wide collaboration for legislative efforts. In his opening remarks, Vice Chairman Kim talked about the importance of seeking a proper balance between innovation based on new technology and investor protection and financial stability. Through taskforce meetings and its working groups, authorities plan to comprehensively examine (a) the legal characteristics and the rights relationship regarding digital assets and ways to respond to digital asset related crimes, (b) digital assets and financial stability, central bank digital currency (CBDC) and taxation issues, (c) regulatory framework for digital asset issuance and distribution markets and (d) ways to promote the blockchain industry.

* Please see press release for details.