[Bitcoin Now] Dunamu Vice Chairman Kim Hyungnyeon: "Virtual Asset Revitalization Needed at Least on Par with the US"

Kim Hyungnyeon, Vice Chairman of Dunamu, argued that institutional reforms on par with those in the United States are necessary to revitalize the domestic virtual asset industry.

At the first session of the Dunamu policy conference 'D-CON 2025' held at the Fairmont Ambassador Hotel in Yeouido, Seoul, on November 19, Vice Chairman Kim stated, "We need to establish a system that enables business activation comparable to that of the United States," and emphasized, "It is important to create an environment where people can invest freely, safely, and fairly, not only abroad but also here in Korea."

He also stressed that unconditional regulation could actually drive the market underground. "Blockchain is inherently borderless," he explained.

He continued, "From the perspective of traditional finance, such as blockchain or major foreign economic media like The Economist, Bitcoin or blockchain is sometimes described as a cockroach," adding, "This is because when you try to block it, it keeps trying to escape to places where it can't be seen."

He further added, "Rather than having the system lead and create something, we need to strategically manage the industry and consider policies that can safely protect investors."

He also pointed out that regulations on the domestic virtual asset market are too excessive. "According to feedback from investors, due to restrictions on Korean exchanges, investors are seeking new opportunities by moving to overseas exchanges," he said, criticizing, "Korean exchanges are in a crucible of regulation."

In the first session, Vice Chairman Kim Hyungnyeon of Dunamu, Assemblyman Kim Jaeseop of the People Power Party, Assemblyman Chun Haram of the Reform Party, and Assemblywoman Hwang Jeonga of the Democratic Party of Korea held a special discussion on the theme "A New Political Generation: Discussing the Path of K-Digital Assets." The panelists exchanged views on the virtual asset strategies of major countries such as the United States, as well as Korea's current issues and challenges in the virtual asset sector.

Assemblyman Kim Jaeseop said, "Countries around the world are competing for dominance in digital assets to secure the financial innovation and enormous added value created by digital assets," and added, "Korea should also promote industrial innovation and thoroughly protect user rights by institutionalizing digital asset derivatives, encouraging active participation of institutional investors, and establishing a robust user protection system, so that it can become a trusted market with global competitiveness."

Assemblyman Chun Haram emphasized, "Digital assets can serve as a foundation for providing quality jobs to young people, beyond being just an investment vehicle," and continued, "As the digital asset market matures and institutional foundations for user protection are being established, it is time to discuss balanced digital asset institutionalization that harmonizes industry ecosystem development and user protection."

He added, "To strengthen the competitiveness of the digital asset industry, Korea should foster global digital asset companies like Coinbase," and stated, "Through timely nurturing policies and rational regulatory easing, we must support domestic digital asset companies so they can compete in the global market."

Assemblywoman Hwang Jeonga said, "The United States is solidifying its leadership in the digital asset industry to gain an advantage in the competition for dominance," and added, "Korea also needs to move more quickly in line with global trends."

She further stated, "The Lee Jaemyung administration is strongly pursuing policies to shift investment sentiment, which has been excessively focused on unproductive real estate, toward the stock market and new industries," and added, "Digital asset policies should also be reviewed based on this direction."