Crypto▲ Bullish
South Korea Corporate Crypto Access Hinges on Custody Rules
B-DAX CEO says bank-level custody is a necessity as South Korean policymakers meet July 23 to discuss corporate crypto access. B-DAX holds 80 billion won in AUC, the largest in South Korea.
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South Korea's push to open corporate digital asset markets is moving forward with a conference on July 23 at the National Assembly in Seoul. The event will bring together policymakers and industry leaders to discuss custody and compliance as prerequisites for institutional participation.
Lawmakers Kim Hyun-jung and Ahn Do-geol are co-hosting the conference. B-DAX, a digital asset infrastructure firm, co-organized the event with the Korea Fintech Industry Association and the Digital Financial Crime Response Research Institute.
Officials from the Financial Services Commission and the Korea Financial Intelligence Unit are expected to attend. Representatives from traditional finance, academia, and the legal sector will also participate.
B-DAX CEO Hongyeol Ryu will deliver the first presentation. In prepared remarks, Ryu said custody infrastructure with bank-level security and compliance is a necessity, not a choice. “As the corporate market opens in earnest, custody infrastructure with bank-level security and compliance is a necessity, not a choice,” he said.