[South Korea's Financial Supervisory Service Plans to Collaborate with FIU to Establish a Crypto Asset Regulatory Framework] South Korea's Financial Supervisory Service (FSS) Governor Lee Bok-hyun stated during the National Assembly's Political Affairs Committee audit that the agency is working with the Financial Intelligence Unit (FIU) to advance the construction of a regulatory framework for crypto assets, following internal control failures at exchanges such as Bithumb. He mentioned that the second phase of the draft Basic Act on Digital Assets will strengthen the regulatory framework, and the new regulatory structure is nearing completion. Additionally, National Assembly member Lee Kang-in pointed out that South Korea's crypto regulatory authority is fragmented across the Financial Services Commission, the Financial Supervisory Service, the FIU, and the Bank of Korea, with numerous suspected violations at related exchanges.