South Korean Finance Minister promises reform after mishandling of cryptocurrencies

2026-03-02 05:46:26

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Odaily Planet Daily News: South Korean Vice Prime Minister and Minister of Economy and Finance Koo Yun-cheol pledged to overhaul the country’s approach to managing digital assets in public institutions. A series of recent incidents have exposed weaknesses in the government’s custody and oversight of seized cryptocurrencies.

Koo Yun-cheol stated that he will collaborate with the Financial Services Commission and the Financial Supervisory Service to review the current state and management practices of digital assets held and managed by the government and public institutions through measures such as seizures. He emphasized that the government’s digital assets are limited to those obtained through legal enforcement actions such as tax seizures or criminal investigations. (Decrypt)

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