President Moon Jae-in’s nominee for Financial Services Commission Chairman, Choi Jong-ku, says related agencies have begun discussing whether or not to regulate virtual currency such as Bitcoin and Ethereum.
 
During his confirmation hearing at the National Assembly on Monday, Choi said that now is the stage to think about how to perceive virtual money.
 
He said that no country has decided with what system to control virtual currency. He said many countries seem hesitant to do so given that regulating such money could bring about many problems.
 
The nominee went on to say that problems resulting from overheated transactions of virtual currency, including illegal dealings, are emerging.