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Nominee for Chairman of South Korea's Financial Services Commission: Cryptocurrencies Lack Intrinsic Value
Summary: According to The Block, Lee Eok-yoon, the nominee for Chairman of the South Korea Financial Services Commission (FSC) in 2025, stated in a written response during a confirmation hearing that cryptocurrencies lack intrinsic value due to high volatility, making them unsuitable as a store of value or medium of exchange. He also expressed concerns about ...
According to The Block, Lee Eok-yoon, the nominee for Chairman of the South Korea Financial Services Commission (FSC) in 2025, stated in a written response during a confirmation hearing that cryptocurrencies lack intrinsic value due to high volatility, making them unsuitable as a store of value or medium of exchange. He also expressed concerns about pension funds investing in crypto assets. This statement has sparked strong opposition from the South Korean crypto industry, with insiders believing the viewpoint is regressive, especially at a time when global institutions are actively adopting cryptocurrencies. It is worth noting that Lee Eok-yoon has an open attitude towards stablecoins, stating that he will support the development of local stablecoin projects in South Korea, seeking a balance between innovation and regulation.
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Link: Nominee for Chairman of South Korea's Financial Services Commission: Cryptocurrencies Lack Intrinsic Value [Copy]
