South Korea Financial Watchdog Chief Says Crypto Can Be Subject to Capital Markets Law

The governor of the South Korea Financial Supervisory Service (FSS), Lee Bok-Hyun, has indicated that virtual assets could form part of the country’s securities and capital markets law. Mr Lee said at a press conference, “I disagree with the view that some virtual assets do not have parts that can be recognized as financial investment products or securities.”. The official further added that as a lawyer or someone in charge of financial matters, he thinks that “if certain qualifications are met, it can be judged as securities,” he continued by stating “materials are available.”. The latest view from the regulator contrasts with its stance in 2017.