The FSC and the Ministry of Science and ICT jointly held a meeting with the fintech and blockchain sectors on December 1 to listen to policy suggestions for promoting blockchain-based fintech services. At the meeting, FSC Secretary General Lee Se-Hoon said that the government will seek balanced ways to promote innovation based on the blockchain technology and ensure consumer protections and financial stability at the same time. Secretary General Lee said that the government will establish a regulatory framework on virtual assets which will focus primarily on investor protections to promote the development of the virtual asset market rooted in investors' trust. At the meeting, participants agreed to maintain close public-private cooperation in continuously promoting the fintech and blockchain sectors.