South Korea's Deputy Prime Minister and Finance Minister, Koo Yoon-cheol, announced plans for comprehensive reforms in the management of digital assets by public institutions. This decision follows a series of incidents that highlighted vulnerabilities in the government's handling of seized cryptocurrencies.
Koo stated that the government will work with the Financial Services Commission and the Financial Supervisory Service to review and improve the current management practices of digital assets. The focus will be on assets obtained through legal enforcement, such as tax seizures or criminal investigations, to enhance security and prevent future mishandling.
South Korea to Reform Digital Asset Management After Mishandling Incidents
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