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South Korea has established a new Digital Asset Committee to address regulatory challenges in the crypto sector. The committee aims to enhance consumer protection and foster a competitive digital asset environment.
- The 'one exchange, one bank' policy is deemed inadequate by the committee, which is exploring alternatives.
- Stablecoin oversight is a key agenda item, with discussions on whether the Bank of Korea or the FSC should regulate them.
- The committee includes representatives from major South Korean crypto exchanges like Upbit and Bithumb.
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