Korean FSC official: The impact of the cryptocurrency market on financial stability is expected to expand

ChainCatcher news, according to Chosun Biz, at the 2024 Seoul Fintech Week, Lee Hyun-deok, head of the Virtual Asset Regulatory Bureau of the Financial Services Commission (FSC) of South Korea, emphasized that although the current impact of the cryptocurrency market on financial stability is still limited, this impact is expected to intensify.

He pointed out that the recent cryptocurrency regulatory measures introduced in South Korea may trigger further discussions on regulatory details, leading to regulatory uncertainty. This uncertainty could potentially affect innovation and development in the cryptocurrency sector.