Vice Chairman Kim Soyoung of the Financial Services Commission met with Commissioner Mark Uyeda of the U.S. Securities and Exchange Commission at his office in Seoul Government Complex on September 2 and held talks on the prudential regulation reform for non-bank financial intermediaries being discussed at the Financial Stability Board and virtual asset regulations in Korea and the U.S. At the meeting, Commissioner Uyeda showed interest in Korea's virtual asset regulations especially regarding how the government has been making efforts to strike a proper balance between promoting new technologies, such as blockchain, and protecting users and ensuring financial stability. In this regard, Vice Chairman Kim said that related government ministries have been closely working together to maintain an appropriate balance in promoting innovation through blockchain technology and ensuring protection for virtual asset users. To make sure that market remains credible amid a changing financial market environment around the world caused by technological advances, Vice Chairman Kim said that he hopes to maintain active communication between the financial authorities of Korea and the U.S.