As of the end of June this year, there were a total of 9 cryptocurrencies issued by Korean listed companies through their overseas subsidiaries, and 102 crypto assets acquired and held by 37 Korean listed companies were worth 404.7 billion won (about US$300 million).
In response, the Financial Supervisory Service of South Korea plans to enforce the disclosure of useful information related to virtual assets and establish new basis for it, but NFT and central bank digital currency (CBDC) are not publicly disclosed virtual assets.
The country's Financial Supervisory Service today co-hosted a "Seminar on Accounting, Auditing and Supervision Issues of Virtual Assets" with the Korea Accounting Standards Institute and the Korea Economic Research Institute. Participants said that virtual assets have become an important investment tool, but there are limitations in applying current accounting standards, and the demand for information disclosure is gradually increasing.
Earlier on November 16, it was reported that the Financial Supervisory Service of South Korea will launch crypto audit guidelines, which will force companies to disclose cryptocurrency issuance and token sales. (Tax Daily)