Svmuu News: The South Korean Financial Services Commission (FSC) stated that it will submit the second-phase government bill for the “Digital Asset Framework Act” as soon as possible and will coordinate the release of guidelines for corporate cryptocurrency trading with the legislative process. At the same time, the FSC plans to subject digital asset custody to independent business regulation and is taking a cautious stance on mandating that exchanges spin off their custody businesses. Furthermore, South Korea will draw on the European Union’s approach to provide a more streamlined access mechanism for traditional financial institutions applying for virtual asset service provider licenses. Regarding the market’s focus on the separation of exchange custody operations, the Financial Services Commission noted that there are currently few cases of mandatory separation overseas and expressed a preference for preventing conflicts of interest through enhanced behavioral regulation rather than requiring exchanges to operate custody businesses independently.