Cha Myung-hoon, CEO of Coinone, "Foreigners and Corporations Should Be Allowed to Enter the Domestic Market"

[Asia Economy Reporter Lee Jung-yoon] Cha Myung-hoon, CEO of Coinone, has proposed allowing foreigners to participate in the domestic virtual asset market.

On the 30th, Cha attended the "Future of Digital Assets - New Industry and Regulatory Innovation TF Research Results Report" hosted by the People Power Party Policy Committee and the Digital Asset Special Committee, stating, "The domestic market has lost its status as a global investment fund hub due to restrictions on foreigners using domestic exchanges."

He added, "If foreign investment in the domestic virtual asset market is allowed on the premise of identity verification, it will help increase the global competitiveness of domestic exchanges."

Cha also proposed allowing corporate participation in the market. He said, "In foreign countries, investment by institutions and corporations is continuously expanding," and "Their market entry greatly contributes to reducing volatility, which is pointed out as a drawback of the virtual asset market, thereby helping to create a stable market, so it should be actively adopted domestically as well."

He further stated, "Allowing financial companies to enter the virtual asset market is expected to improve the problem of information asymmetry," and "Objective evaluation reports can provide high-quality information and strengthen sound investment conditions."