South Korea's FSC Chair Candidate Sparks Controversial Over Investment Strategy and Publicly Questioning Bitcoin Value
2025-09-03 02:07:29
According to Cryptonews, South Korea's Financial Services Commission (FSC) chairperson candidate Lee Jae-won has been criticized by members of Congress for investing in shares of Bitcoin-friendly U.S. company Strategy. During his congressional confirmation hearing on September 2, Lee Jae-won said he bought blue-chip U.S. stocks to understand investor sentiment. The FSC is South Korea's top financial regulator and has the final say on South Korea's crypto regulations. Lee Jae-won's portfolio also includes shares in Nvidia and Tesla, which is seen as running counter to President Lee Jae-myung's policy of revitalizing the domestic stock market. In addition, Li Geyuan has also been criticized by the crypto community for his comments on the value of crypto assets, calling bitcoin and other cryptocurrencies "without intrinsic value" and expressing reservations about discussions that governments and pension funds might be allowed to launch strategic bitcoin reserves.
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