Regulatory situation in South Korea.

The virtual asset speculation activities in the Korean market are very frequent and it is a very representative market. Judging from the "Guidelines for the Reform of the Security Token Issuance and Circulation Supervision System" issued by South Korea in February, South Korea must first manage the business of "issuing stock assets in the form of tokens", which is managed by referring to the rules of securities supervision.

This statement is similar to the regulatory ideas previously announced by Israel, which uses the existing securities regulatory system to conduct certain management of virtual assets.