South Korean insurance body forms committee to acquire Bitcoin, Ethereum

South Korea's Insurance Training Institute has begun the process of becoming the country's first institution to hold Bitcoin, Yonhap Infomax reported. The institute plans to establish regulations for managing digital assets and subsequently acquire major virtual assets, including Bitcoin and Ethereum. The institute, which trains professionals for the insurance and finance sectors, announced today that it has formed a digital asset deliberation committee. The committee's objective is to create internal standards for managing digital assets as part of the institution's own holdings, in preparation for the potential regulatory formalization of a won-backed stablecoin.