South Korea Financial Services Chairman: ”Virtual currency committee to be launched in September...to discuss issues such as physical ETFs”

According to News 1, South Korea's Financial Services Chairman Kim Byung-hwan has announced a two-stage legislation for the Virtual Currency User Protection Act, approval of Bitcoin spot exchange-traded funds (ETFs), and the establishment of a corporate embassy.
On the 12th, the government announced that it will launch a virtual currency committee within September to discuss the many issues facing the virtual currency industry, including the issue of whether to allow the issuance of virtual accounts.
Kim Byung-hwan, chairman of the Financial Services Agency, held his first press conference since assuming his position at the Government Seoul building that afternoon.
In response to a question about the virtual currency industry, he said, "We will launch a virtual currency committee within September to discuss related issues one by one. We plan to decide whether to reflect the policy based on the results of the discussion."
Kim Byung-hwan, chairman of the Financial Services Commission, said, "(Financial Services Commission Vice Chairman Kim Seoyeong) will be the chairman," and "We will appoint experts (in the virtual currency industry) and related ministries and agencies as the chairman."
However, Kim Byung-hwan, chairman of the Financial Services Agency, said that among the two policy goals of "nurturing" the virtual currency industry and "protecting investors," the priority is on "developing" the virtual currency industry.
"Regarding the two policy goals of market development and investor protection, we need to further strengthen investor protection," said Financial Services Chairman Kim Byung-hwan.
However, Financial Services Chairman Kim Byung-hwan said, "Rather than simply having such issues discussed within the Financial Services Commission, I think it is important to
"We believe it is necessary for a variety of experts to participate and discuss the relevant issues," he said, adding, "We would like to quickly form a committee to explore the extent to which investor protection and other concerns can be harmonised."
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