According to Odaily, the Financial Services Commission (FSC) of South Korea has plans to establish a Virtual Asset Department under its Financial Innovation Planning Group. The commission aims to complete the appointment of management personnel by the end of June at the latest. The FSC is currently conducting relevant training for virtual asset investigators. This department will be fully responsible for the 'Virtual Asset User Protection Law' which will come into effect on July 19. The establishment of this department signifies the growing importance of virtual assets in the financial sector and the need for proper regulation and user protection.