Chairperson of the Korean Financial Commission: The process of "allowing legal persons to open virtual asset accounts" and stablecoin legislation will be accelerated

According to News1, Kim Byung-hwan, chairperson of the South Korean Financial Commission, said on allowing legal persons to invest in virtual assets: "The content of the legal person account was omitted from the press release issued by the Virtual Asset Commission (meeting) last week. So there was speculation whether it would not be advanced, but it is not the case. Since the Commission has discussed the relevant content before, we will determine the position and announce it as soon as possible." He also said that a separate regulatory system will be developed for stablecoins. On the issue of Upbit's sanctions, he said that he would consider the possible impact on users. "Users may be affected or feel uneasy, and I think it is necessary to reach a conclusion as soon as possible," he said.