South Korea’s Democratic Party sets up ‘Digital Asset Committee’

Q: How long will it take to read this news story?

The story "South Korea’s Democratic Party sets up ‘Digital Asset Committee’" has 439 words across 13 sentences, which will take approximately 2 - 4 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "South Korea’s Democratic Party sets up ‘Digital Asset Committee’" was covered 16 hours ago by Coin Telegraph, a news publisher based in United States.

Q: How trustworthy is 'Coin Telegraph' news outlet?

Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news. The outlet is headquartered in United States and publishes an average of 32 news stories per day. It's most recent story was published 7 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #28677695</li><li>URL: https://warm.beamstart.com/news/south-koreas-democratic-party-sets-17471414854319</li></ul>

Coin Telegraph 16h ago

South Korea’s Democratic Party sets up ‘Digital Asset Committee’ - Coin Telegraph

Quick Summary:

Criticism of “one-exchange, one bank” ruleAt the opening meeting, committee chairman Min expressed concerns regarding limitations of South Korea’s current one-exchange-one-bank rule, implying that crypto exchanges are restricted to collaborating with only one lender.“There are clear shortcomings to the one exchange, one bank principle,” Min reportedly said, adding that the committee is working with regulators to resolve the issue.

Exchanges like Upbit and Bithumb involvedThe leadership of the Digital Asset Committee includes South Korean officials and politicians such as National Assembly chairman Min Byeong-deok, who joins the committee as chairman.

The new committee joins similar organizations in South Korea, including the Virtual Asset Committee launched in late 2024 and another public-private crypto task force introduced in 2022, both initiated by the Financial Services Commission (FSC).