Yoon & Yang LLC said on the 15th it will hold the 13th game talk on the 22nd at 2 p.m. at ASEM Tower in Gangnam-gu, Seoul.
The talk will cover ways to use stablecoins in the game industry and regulatory response strategies for game companies in preparation for the enactment of the Basic Act on Virtual Assets. Stablecoins are virtual assets designed to be pegged to the value of specific assets such as the dollar, and industry interest is growing because they can be connected to in-game payments and settlements or digital goods transactions.
Yoon & Yang sees the game industry, which has a global user base and an item and digital goods transaction structure, as a field with strong potential for stablecoin use. With the European Union's MiCA, a regulatory framework for virtual assets, and ongoing discussions on institutionalization in the United States, the point is that domestic game companies need to review business structures and internal control systems that align with changes in related legislation.
In the first session, Kim Jeong-hun, a senior advisor at Yoon & Yang, will give a presentation titled Game companies' stablecoin utilization strategy: Away from P2E. Kim previously served as head of the Blockchain team at the Financial Supervisory Service. The presentation will explain ways to use stablecoins as payment and settlement infrastructure for in-game transactions, item marketplaces, and cross-border settlements, along with the trend toward institutionalizing stablecoins.
In the second session, Yoon & Yang attorney Lee Bo-hyeon (36th Judicial Research and Training Institute class) will give a presentation titled Basic responses to the virtual asset law for game companies: Implementation through the issuers' council. Lee will address the legislative debate on the Basic Act on Virtual Assets and the regulatory response tasks that existing utility coin issuers need to review. Key issues include issuance, distribution, holder management, disclosures, user protection, and internal controls.
The need for game companies and virtual asset issuers to form a voluntary consultative body will also be discussed. Yoon & Yang believes an issuers' council can help close the gap between government regulatory policy and on-the-ground industry realities and play a role in establishing a reasonable regulatory framework.
After the presentations, Yoon & Yang advisor Kim Yong-tae will moderate a discussion. Kim previously served as director general of electronic financial supervision at the Financial Supervisory Service. The discussion will feature senior advisor Kim Jeong-hun, attorney Lee Bo-hyeon, and Yoon & Yang game center head Kim Jong-il (senior advisor). Topics will include the legal structure of stablecoin issuance and operation, the level of regulatory burden, and the role and scope of the issuers' council.
Yoon & Yang managing partner Lee Myeong-su said, "As the institutionalization of the virtual asset market gains momentum, the game industry is also facing new business opportunities and changes in the regulatory environment," adding, "Corporations need to prepare response strategies that consider both technological innovation and user protection."
The talk is open to game industry executives and those in charge of legal affairs, policy, technology, and operations. Admission is free, and registration is available until 10 a.m. on the 18th.