Samil PwC: "Virtual Asset Market at a Turning Point... Companies Must Secure Comprehensive Management Capabilities" [Bitcoin Now]

"Changes in the Virtual Asset Market and Corporate Response Strategies" Seminar

Following the re-election of President Donald Trump, recent policy changes in the United States have increased volatility in the virtual asset market. At the same time, the Korean government is discussing a roadmap for corporate participation in virtual assets, marking a significant turning point. In response, experts have suggested that companies need to proactively establish internal control systems and accounting standards related to virtual assets, as well as secure comprehensive management capabilities, including security systems and specialized personnel.

Samil PricewaterhouseCoopers announced on the 17th that it held a seminar titled "Changes in the Virtual Asset Market and Corporate Response Strategies" on the 16th at the Amore Hall on the second floor of its headquarters in Yongsan-gu, Seoul. At this seminar, Samil PricewaterhouseCoopers virtual asset industry experts and external professionals explained domestic and international legislative trends regarding stablecoins, outlined preparations required for allowing corporate transactions in the virtual asset market, and presented corresponding response strategies. The event was attended by approximately 200 corporate representatives and experts.

Kim Gaprae, a researcher at the Korea Capital Market Institute, gave a presentation on the legislative trends and challenges of stablecoins both domestically and internationally. He stated, "The core of stablecoins lies in payment innovation based on a one-to-one reserve asset. Although we are currently in the early stage where network effects are spreading, stablecoins will become an essential means of payment as the public offering market expands." He added, "Once institutionalization is complete, the benefits of rapid payments, remittances, transparency, and liquidity will allow for the creation of new products and synergies tailored to each business sector."

Seo Byungyoon, Head of the Future Research Center at DSRV, a blockchain infrastructure company, discussed the impact of stablecoins on financial markets. Seo explained, "As blockchain technology replaces traditional monopolistic financial infrastructures such as Visa and SWIFT, stablecoins like USDT and USDC are spreading as everyday payment methods in regions such as Latin America. As 'coded money,' stablecoins have the potential to replace the roles of existing banks and insurance companies, and they will drive changes and innovation in financial markets over the coming decades."

Jennifer Kang, Director at Samil PricewaterhouseCoopers, spoke on the topic of "Overview and Importance of Compliance Programs (KYC & AML) Related to Virtual Asset Transactions," explaining the concepts of Know Your Customer (KYC) and Anti-Money Laundering (AML), as well as the current status of AML regulations related to virtual assets. Kang noted, "The Financial Action Task Force (FATF) classifies virtual assets as high-risk due to anonymity, decentralization, and rapid cross-border transfers, and is strengthening related regulations. As cases of AML sanctions on virtual assets increase due to the United States' Genius Act, European Union directives, and amendments to existing laws in Korea and Japan, companies should approach compliance not just as regulatory adherence but as a strategy to secure credibility for both corporations and nations."

Kang Kyungjin, Executive Director of the Korea Listed Companies Association, explained the preparations required for listed companies in light of the allowance of corporate transactions, focusing on supervisory guidelines for corporate accounting of virtual assets and examples of note disclosures, including impairment assessments and determining active markets for fair value measurement.

Cho Jinseok, CEO of Korea Digital Asset (KODA), discussed "Considerations for the Safe Management of Corporate-Owned Virtual Assets," introducing the characteristics of blockchain, the necessity of custody (the business of safely storing and managing client assets), types of digital asset-holding corporations, and virtual asset accounting disclosure guidelines in Korea and the United States. Cho emphasized, "The greatest risk when corporations and institutions hold virtual assets is the possibility of permanent asset loss due to the loss or theft of private keys. Therefore, it is necessary to recognize digital assets as formal assets and to secure management capabilities in internal control, risk management, and accounting management."

On the 16th, Lee Jaehyuk, Virtual Asset Industry Leader at Samil PricewaterhouseCoopers, spoke at the seminar titled "Changes in the Virtual Asset Market and Corporate Response Strategies" held at the Samil PricewaterhouseCoopers headquarters in Yongsan-gu, Seoul. Samil PricewaterhouseCoopers

Lee Jaehyuk, Virtual Asset Industry Leader (Partner) at Samil PricewaterhouseCoopers, gave a lecture on advanced internal control strategies for virtual assets in light of the allowance of corporate transactions. Lee predicted, "As the real-world asset tokenization (RWA) market rapidly grows, particularly in the United States, the future trend in virtual asset transactions will be the combination of atomic swaps (cryptocurrency exchanges without intermediaries) and AI agents." He explained, "When 24-hour automated trading without human intervention becomes possible, the focus of control will shift from people to code, and from post-verification to real-time, design-based control, bringing about a revolutionary change. Corporations must now secure comprehensive virtual asset management capabilities, including establishing sophisticated risk management systems tailored to investment objectives, security systems for private key management, securing specialized personnel, and preparing accounting and tax response measures."

Hong Junki, Head of Audit at Samil PricewaterhouseCoopers, stated, "The recent virtual asset market stands at a paradigm shift, going beyond mere industry expansion amid global policy changes. I hope this seminar will help find practical solutions at the intersection of regulation, industry, and technology, and contribute to building a sound and transparent virtual asset ecosystem."