South Korea's FSC to expand regulatory sandbox to virtual assets

South Korea's Financial Services Commission (FSC) plans to expand its regulatory sandbox to include the Virtual Asset User Protection Act, Digital Asset reported. The move is part of a broader plan to prepare for the future of finance by expanding services to reflect changes in the financial environment and market demand. At a recent event chaired by FSC Chairman Lee Eog-weon, the commission stated it would continuously identify and include laws related to new sectors and services, such as the Internet Banking Act and the Virtual Asset User Protection Act, within the sandbox's scope.