South Korean Financial Regulator Head Plans Crypto Discussion with SEC Chair Gary Gensler

Lee Bok-hyun, the head of South Korea’s Financial Supervisory Service (FSS), is set to meet with SEC Chair Gary Gensler in January to discuss crypto regulation. The meeting holds significance amid potential SEC approvals for Bitcoin exchange-traded products. Regulatory collaboration between countries becomes crucial for the evolving landscape of virtual assets.

Head of South Korea’s Financial Supervisory Service (FSS), Lee Bok-hyun, is gearing up for a crucial discussion with SEC Chair Gary Gensler in January.

The meeting aims to delve into the current state of the crypto market and the supervisory policies governing it. As the SEC potentially considers approving spot Bitcoin exchange-traded products in January, this encounter gains added significance. An unnamed South Korean government official emphasized the importance of regulatory cooperation in the realm of borderless virtual assets.

The FSS is navigating its own timeline, with plans to implement policies in July 2024 regarding the handling of crypto investor deposits on exchanges.

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