South Korea Forms Digital Asset Committee for Crypto Policy

By: bitcoin ethereum news|2025/05/14 21:00:15

The responsibilities of the committee will be to play a role in drafting pledges, driving legislation, and making frameworks for virtual assets. The Committee is centered on two main groups, i.e, the Industrial Innovation Growth Committee and the Policy and System Support Committee. The Democratic Party of South Korea revealed a Digital Asset Committee on May 13. The Committee will be dedicated to bringing crypto regulation directly to the office of the next president. On the same day, the committee held its first meeting at the National Assembly Members’ Hall in Seoul. Also, it is made under the election campaign arm of the party. News1, a news agency of S. Korea, reported that this step is taken in view that the digital assets are the main concern in the upcoming presidential election. The responsibilities of the committee will be to play a role in drafting pledges, driving legislation, and making frameworks for virtual assets, having early discussions aimed at the Basic Digital Asset Act, often called the Stage 2 Bill. The Two Prominent Committees The appointed chairman of the committee is Representative Min Byeong-deok, and he highlighted the vision by asserting that the target is to make the Digital Asset Committee directly under the president in order to have expertise and implement actual policies. The Committee is centered on two main groups, i.e, the Industrial Innovation Growth Committee and the Policy and System Support Committee. The Industrial Innovation Growth Committee is designed to focus on enhancing the leadership of the nation in the global digital economy, and will be chaired by Professor Kang Hyung-goo. On the other hand, the Policy and System Support Committee will focus on laws and regulatory frameworks, and will be chaired by Dr. Yoon Min-seop. Adding more to this, four subcommittees will focus on user protection, legal reform, industry growth, as well as external cooperation. After the decision of South Korea’s Democratic Party to establish a new committee, the Bank of Korea (BOK) is discussing who should oversee the stablecoin future of the nation. Stablecoins, mainly those pegged to the Korean won, have quickly become a major point of contention in the lead-up to the June 3 presidential election. Highlighted Crypto News Today: India Tightens Crypto Monitoring in Border and Sensitive Regions Source: https://thenewscrypto.com/south-korea-forms-digital-asset-committee-for-crypto-policy/

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.

Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.

Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.

The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position

The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.

Social-Native Trading: Strategy and Execution Completed in the Same Context

Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying

On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.

Referral Mechanism: Non-institutional users can receive up to 60% fee split

Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings

This model aims to drive user-driven network expansion and organic growth.

Self-Custody Architecture and Built-in Privacy Mechanism

Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:

· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure

The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.

A New Path for On-Chain Derivatives

Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.

The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.

This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."

The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication

Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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