South Korea’s financial regulator, the Financial Services Commission, has re-shuffled itself and created a bureau to oversee cryptocurrencies.

The agency said in a press release that the Financial Innovation Bureau will respond “to new developments and challenges such as cryptocurrencies.” Aside from crypto, the entity will spend time working on policy initiatives for fintech and big data, Bitcoinist reported.

For now the bureau will be a two-year wonder, but with virtual currency and blockchain on the rise you can bet that will change very soon. Read more here.

ThirtyK Staff
If you would like to contact the ThirtyK News Brief team, please email us at contact@thirtyk.com.