The Bank of Korea has the right to investigate virtual asset operators

COMPANY / Reporter Kim Jisun / 2023-04-20 20:05:55
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
한국은행 (사진=연합뉴스)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] According to an official of the National Policy Committee of the National Assembly on the 20th, a plan to specify the Bank of Korea's right to request the submission of data is in progress. The Financial Services Commission will officially express its position at the first subcommittee of the bill to be held on the 25th.

As a result, discussions on the Act on the Aggravated Punishment, etc. are expected to accelerate again.

Until now, the Bank of Korea has expressed its position that the right to submit data to virtual asset operators and issuers should be carried out. The logic is that the risks of the virtual asset market can spread to the financial system, so it should be managed by the Bank of Korea, which aims for financial stability.

In response, the Financial Services Commission expressed its opposition because if the Bank of Korea is involved in the process of discussing the Household Assets Act, it could recognize the monetary value of virtual assets. 

 

The Financial Supervisory Service is also said to have drawn a line, saying, "Manipulating the FSS's right to inspection in the Additional Property Act will cause misunderstanding to the general public that virtual asset markets and businesses are treated in the same way as financial markets and institutions."

 

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)

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