South Korean Regulator to Open Blockchain Department

[kreslik.news]

The Financial Services Commission, the financial watchdog of South Korea, plans to establish a department dedicated to the blockchain industry, according to the Korea Times.

The department will be called the Financial Innovation Bureau, and it will be a temporary body, active for only two years. The FSC said that its purpose is to nurture the country’s blockchain and fintech industry.

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An FSC spokesperson said: “The new Financial Innovation Bureau will also be tasked with policy initiatives for financial innovation, such as innovating financial services using fintech or big data, and responses to new developments ... (read more)