Svmuu News: Kim Seong-jin, Director of the Virtual Assets Division at South Korea’s Financial Services Commission, stated during a National Assembly session that the government is simultaneously advancing legislation related to stablecoins—specifically, the second phase of the Framework Act on Digital Assets—and facilitating the entry of institutional investors into the market. The Financial Services Commission has pledged to finalize digital asset legislation by the end of the year. If institutional participation is realized, the nine-year-old ban on financial companies holding equity in cryptocurrency firms is expected to be lifted this year, allowing financial institutions such as banks and securities firms to participate in virtual asset investments. Kim Seong-jin also noted that the government is studying the introduction of stock-market-style institutional brokers and over-the-counter (OTC) trading intermediaries for the virtual asset market. At the same time, drawing on the European Union’s approach, the government plans to simplify entry requirements for financial institutions entering the virtual asset sector in business areas with similar functions.