South Korea reviews digital asset custody as standalone business

By: rootdata|2026/07/23 05:38:50

South Korean financial authorities are considering a plan to separate and regulate digital asset custody as an independent business area. Kim Sung-jin, head of the virtual asset division at the Financial Services Commission, stated that smooth trading is contingent on ensuring safe storage and management of digital assets. This review aligns with the opening of the digital asset market to corporations. Kim emphasized that there is little room for debate on this separation as South Korea advances second-phase legislation, which is a foundational law on digital assets, and is currently evaluating detailed rules regarding market entry and business conduct.

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