[Bitcoin Now] FSS Governor Lee Chanjin: "User Protection Must Be the Core Value for Virtual Assets"

Meeting Held with CEOs of Ten Virtual Asset Businesses, Including Dunamu

Lee Chanjin, Governor of the Financial Supervisory Service, urged CEOs of virtual asset businesses to practice user-centered responsible management.

Lee Chanjin, Governor of the Financial Supervisory Service, is delivering opening remarks at the 'Financial Supervisory Service Governor-Research Institute Heads Meeting' held at the Korea Financial Investment Association in Yeouido, Seoul on September 23, 2025. Photo by Kang Jinhyung

On September 30, at a meeting with CEOs of virtual asset businesses held at Dreamplus Gangnam in Seocho-dong, Seocho-gu, Seoul, Governor Lee emphasized, "In order for virtual assets to stand shoulder to shoulder with institutional financial products, it is essential to establish user-centered responsible management."

He also referred to the recent trend of virtual asset exchanges competing to offer high-risk products and leverage services. Governor Lee stated, "Virtual assets were once dismissed as mere speculative tools, but now they are expanding their influence across the global financial order and the broader economy. For sustainable growth, users must be respected as partners in mutual prosperity, not simply as targets for profit generation." He further stressed, "There should never be a loss of user trust due to distorted competition focused solely on short-term results, such as excessive promotional events or the launch of high-risk products."

Additionally, he called for greater focus on building and managing the stability of IT infrastructure. He said, "System outages caused by human error or poor management continue to occur. If vulnerabilities lead to security incidents, as seen in recent cases involving telecommunications or financial companies, a large number of people could suffer serious damage." He added, "The competitiveness of virtual asset businesses must be rooted above all in IT security."

He also requested that the market surveillance functions of virtual asset exchanges be strengthened. He explained, "Fairness and transparency are the foundation of any market, and the virtual asset market is no exception. I urge you to make company-wide efforts to strengthen your own market surveillance capabilities."

Governor Lee also stressed the need for risk management. He said, "Recently, virtual assets have been expanding their links to the financial and real economies through products such as stablecoins and virtual asset exchange-traded funds (ETFs). Even a small shock in the virtual asset market could cause instability in the financial and real economies, so preemptive management is necessary."

Finally, he stated, "The domestic virtual asset market has grown significantly, with the number of users exceeding 10 million. Only when businesses take full responsibility and prioritize user protection as their highest value can sustainable growth and development be ensured."

Virtual asset business representatives who attended the meeting declared that user protection would be their top management priority. They also conveyed a variety of suggestions, including the need to establish a regulatory framework that enables fair competition and industry-wide cooperation while enhancing global competitiveness and user convenience.

The meeting was attended by ten major businesses, including Korean won-based exchanges such as Dunamu, Korbit, and Coinone, as well as coin-only exchanges and custody service providers.