Lee Bok-hyun, the head of South Korea's Financial Supervisory Service (FSS), intends to meet with Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), in January to discuss the regulation and current state of the #cryptocurrency market.

According to a December 18th report from South Korean media Chosunbiz, Lee plans to visit the SEC in January to meet with Gensler. The purpose of this meeting is to discuss the current state of the cryptocurrency market and future directions of regulatory policy in this area. Cointelegraph attempted to obtain a comment from the SEC but was unsuccessful.

 A South Korean government official emphasized the importance of international regulatory cooperation for the borderless virtual asset market.

 This meeting comes at a time when financial regulators from both countries are facing challenges. There is speculation that the SEC might approve more spot Bitcoin products in January. On the other hand, the FSS plans to implement new guidelines for crypto investors depositing funds on exchanges in July 2024.

 Tension exists between the USA and South Korea over the extradition of Do Kwon, the co-founder of Terraform Labs. Kwon, arrested in Montenegro for using forged documents, may face extradition to the USA.

Under Gensler's leadership, the SEC has faced criticism for its ambiguous stance on spot crypto ETFs. Despite having several pending applications from asset managers, including BlackRock, it has yet to approve a spot fund for #BTC or Ether.

#crypto2024SpaceCatch #crypto2024catch #Binance

 Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“