South Korea's Financial Services Commission Chairman Candidate Says Crypto Assets Have No Intrinsic Value

According to News1, Lee Eok-won, a candidate for chairman of the Financial Services Commission of South Korea, stated in a written opinion submitted to the National Assembly that crypto assets, due to their high price volatility, cannot fulfill monetary functions, lack intrinsic value, and are difficult to equate with traditional financial products. This statement has drawn criticism from the local industry, with some business representatives pointing out that this view is out of step with global trends and ignores the practical application value of assets like Bitcoin. Some have also suggested establishing an independent regulatory body for crypto assets to break away from the existing regulatory framework.