Bank of Korea: It is necessary to allow ICOs when formulating a digital asset framework law in the future

According to Einfomax, the Bank of Korea stated that when formulating the Digital Assets Framework Act in the future, it is necessary to institutionally allow domestic encrypted assets to carry out ICOs, and to clarify the roles and responsibilities of the Bank of Korea, monetary authorities, and stable coins, etc., and emphasized that the Central Bank The need to play a role in the management and oversight of crypto assets (stablecoins). Separately, the Bank of Korea has published a Korean translation of the EU Markets in Crypto Assets Act (MiCA). The Bank of Korea emphasized that “a balanced approach is needed to promote blockchain and crypto asset innovation by introducing a crypto asset regulatory system without hindering the development of related industries due to over-regulation.”