In a recent government meeting chaired by Deputy Prime Minister Koo Yoon-cheol, officials discussed the aftermath of the 'Bithumb Bitcoin over-issuance incident' and announced plans to enhance internal controls and improve regulations for cryptocurrency exchanges. The meeting, attended by key financial figures including the Bank of Korea Governor and the Chairman of the Financial Services Commission, highlighted the need for more rigorous monitoring of the bond market amid rising national bond yields due to various economic factors, including increased volatility in stock prices and the rising interest rates in Japan.

One key take-away from the discussions was the acknowledgment of increased price fluctuation in virtual assets. However, officials, including Deputy Prime Minister Koo, reassured that the direct transmission of this volatility to the broader financial market is limited. They emphasized the importance of addressing the erosion of trust in virtual assets caused by the Bithumb incident and pledged to enhance market supervision to prevent further market risks. The government is poised to act decisively to stabilize the market by reinforcing the internal controls of cryptocurrency exchanges.

In light of external risks such as global monetary policy shifts and U.S. tariff policies, Koo urged the financial institutions to remain vigilant and monitor market conditions closely, especially during the upcoming Lunar New Year period. This proactive approach reflects the government's commitment to maintaining market stability and ensures that necessary measures are in place to handle potential economic disruptions arising from fluctuations in virtual asset prices or external economic pressures.