South Korean financial authorities plan to launch a self regulatory disclosure system for virtual assets this year

According to South Korean media reports, the South Korean financial authorities plan to introduce a self regulatory system for virtual asset disclosure within 2025 to fill the current market regulatory gap. This move aims to protect investors and provide support for industry development. Currently, South Korea implemented the Virtual Asset User Protection Act in July last year, which mainly focuses on investor protection measures such as prohibiting unfair trading practices. However, the second phase bill involving the public disclosure and issuance of virtual assets is still under discussion. To reduce regulatory gaps, financial authorities plan to take the lead in introducing a self regulatory disclosure system, allowing companies to independently disclose information, while also developing guidelines related to advertising and marketing behavior.