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Crypto

Digital Assets Framework Act in final stage, will not fall behind global trends

Financial Services Commission Chairman Lee Eok-won said preparations for the second stage of the Digital Assets Framework Act, including stablecoin institutionalisation, are complete and final consultations are under way. Lawmakers warned South Korea is lagging behind major economies in digital asset rulemaking and cited rising domestic trading in overseas stablecoins. Lee said the framework is largely in place and would be run based on market conditions. He also apologised for losses and market confusion after single-stock leveraged ETF launches.

Crypto

Crypto regulation enters new phase as tokenised securities partnerships accelerate

U.S. regulators are moving ahead with crypto oversight after the Clarity Act stalled in the Senate, issuing a joint SEC-CFTC interpretation on six tokens and approving listings of 3-times leveraged ETFs. Bitcoin recovered to around $86,000 on a weekly close, while XRP drew attention ahead of Evernode’s Nasdaq debut. In South Korea, the government plans tighter monitoring of cross-border digital-asset transfers, and financial firms are accelerating partnerships ahead of a tokenised securities regime due in February.

Finance

Kwon Dae-young says FSC decided to introduce single-stock leveraged ETFs

Kwon Dae-young, first vice minister at the Ministry of Economy and Finance, said the Financial Services Commission made the final decision to introduce single-stock leveraged exchange-traded funds. He denied claims that he moved ahead with the policy by quelling internal opposition. He said there was a need to resolve regulatory differences between domestic and overseas products. Kwon expressed regret over investor losses after the system was introduced and denied political considerations influenced the decision.