South Korean data watchdog to inspect blockchain services

South Korea's Personal Information Protection Commission (PIPC) announced on Nov. 21 that it has launched a preliminary inspection of blockchain application services, Yonhap News reported. The move follows a decision from a plenary meeting on Nov. 20 that approved the results of a preliminary adequacy review for new blockchain-based services. The inspection will target key areas of the blockchain ecosystem, including virtual asset issuance and remittance, virtual asset exchanges that handle crypto-to-fiat and stablecoin trades, decentralized identity (DID) services, and public blockchain infrastructure.