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The SEC's Gensler is reportedly set to meet his South Korean counterpart in May as the Asian nation mulls potential updates to its cryptocurrency and virtual assets regulations.
Efforts to enhance clarity in the Korean virtual asset market are emerging, as both the government and the National Assembly have actively announced their plans to intensify crypto monitoring.
A committee of South Korea's National Assembly approved the Virtual Asset Act protecting crypto investors in May 2022, a year after the collapse of the
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Korea has taken its first step toward institutionalizing crypto assets, after a committee at the National Assembly approved an act focusing on the protection of crypto investors.