Financial Supervisory Service Governor Lee Chan-jin met with chief executive officers (CEOs) of virtual asset service providers and called for companywide internal control systems. Citing recent incidents such as erroneous Bitcoin payouts at some exchanges, he said internal controls must be strengthened to restore market trust.
On the 2nd, at a meeting with virtual asset service provider CEOs held at Front One in Mapo District, Seoul, the governor met with representatives from 15 firms, including Dunamu. The meeting was attended by the governor, Vice Governor for Digital and IT Lee Jong-oh, the head of the Virtual Asset Supervision Department, and the head of the Virtual Asset Investigation Department.
"In the first half of this year, the virtual asset market showed some stagnation due to external factors such as the Middle East situation and a MoneyMove to the stock market," the governor said, adding, "There were also cases where market trust was shaken by erroneous Bitcoin payouts caused by insufficient internal controls at some exchanges."
He continued, "Only places where ordinary people can transact with confidence will be chosen by the market and survive in the long term," and urged, "Please pay particular attention to building and operating companywide internal control systems to restore the market's trust and leap into a mainstream industry." He also emphasized, "The core of internal control is an organizational culture and member awareness that value it, and the CEO holds the helm."
The governor also called for thorough preparation for institutional changes, including the enactment of the Basic Act on Digital Assets and revisions to the Act on Reporting and Using Specified Financial Transaction Information and the Foreign Exchange Transactions Act. He said, "We must closely check the status of regulatory changes to ensure there are no gaps in compliance," adding, "The Financial Supervisory Service (FSS) will also support businesses so they can quickly adapt to the new systems and regulatory framework."
He repeatedly stressed the importance of user protection. "Users are not merely targets for profit but partners in mutual growth," the governor said, adding, "Launching high-risk products, sensational promotions, and delayed disclosures will ultimately lead to a loss of market trust."