Busan Digital Asset Exchange to Contribute to Restoring Trust and Stability

[Asia Economy Reporter Lee Jung-yoon] Kim Sang-min, Chairman of the Busan Digital Asset Exchange Establishment Promotion Committee, stated, "The biggest problem in the current digital asset market is the monopoly of exchanges," and added, "The Busan Digital Asset Exchange can greatly contribute to restoring trust and stability."

Chairman Kim made these remarks on the 30th at the 'Future of Digital Assets - New Industry and Regulatory Innovation TF Research Results Report Meeting' hosted by the People Power Party Policy Committee and the Digital Asset Special Committee.

He continued, "The Busan Digital Asset Exchange is the world's first decentralized exchange," and said, "Investor protection is our highest value."

He also said, "We are considering changing the structure that allows wash trading, and in a decentralized exchange, custody, settlement, and listing review are conducted separately," adding, "Commodity trading, such as gold and intellectual property rights (IP), will first be conducted through a decentralized fair exchange." He further stated, "Since guidelines are being issued by the ruling party, government, and administration, virtual asset trading such as security tokens (STO) will also become possible in the future."

Chairman Kim added, "Busan has the Korea Exchange and the Korea Securities Depository, and this place will become the hub of South Korea's digital economy," and said, "There is also a pledge to partially allow Initial Coin Offerings (ICO), and it is expected that people scattered around the world will gather again to create an economic effect worth trillions of won."

This content was produced with the assistance of AI translation services.