SEOUL — The prospective head of the Financial Services Commission (FSC), Kim Byoung-hwan, voiced his reservations on Monday about permitting corporate bank accounts for cryptocurrency transactions, highlighting concerns over market stability and investor protection.
According to Yonhap News Agency, a former vice finance minister nominated earlier this month as FSC chief, expressed these concerns during a parliamentary session in response to queries about South Korea's stance on corporate cryptocurrency accounts and spot bitcoin exchange-traded funds. He emphasized the importance of prioritizing regulatory frameworks that safeguard investors and maintain financial market integrity, given the previous volatility in the virtual asset market.