New Korean Financial Watchdog Chief Takes Softer Tone on Cryptos

The new head of a South Korean financial watchdog has taken a softer tone on cryptocurrencies and hinted that his agency may consider easing rules for exchanges, The Korea Times reports.

Yoon Suk-heun, the incoming governor of the Financial Supervisory Service (FSS), who is considered a reformist in the country, told reporters at his inauguration, “Regarding cryptocurrencies, there are some positive aspects.”

Improving regulations, he said, would produce a more stable financial system with better services and products.

At the event, Yoon declined to go into detail about any regulatory changes that the FSS is mulling for domestic cryptocurrency exchanges, saying the process will take some time to be finalized.

“There are a lot of issues that need to be addressed and reviewed. We can figure them out but gradually,” he said…

Read Full: New Korean Financial Watchdog Chief Takes Softer Tone on Cryptos