Digital Markets has authorized Jai Yung Byun to serve as its principal advisor. Although SBI intends to expand into Korea, the platform is seeking Byun’s assistance in the areas of regulatory compliance and governance.
Jai Yung Byun has been appointed as the Principal Consultant of SBI Digital Markets, a crypto firm that is a subsidiary of SBI Holdings. This appointment is a strategic move toward the platform’s expansion into Korea.
CEO Winston Quek announced his intention to enhance SBI Digital Markets’ regulatory compliance and governance standards, thereby protecting investors’ interests, in anticipation of Byun’s guidance:
“The hiring of Mr. Byun further demonstrates our dedication to providing outstanding service and fostering development in Korea, APAC, and beyond. Our commitment to protecting the interests of our partners and institutional investors will be bolstered by using Mr. Byun’s consultation services to enhance our standards of governance and regulatory compliance.”
The platform’s objective is to become a prominent crypto company in South Korea, leveraging Byun’s expertise. His extensive experience encompasses a variety of roles at the Bank of Korea, such as Chief Representative at the Bank of Korea’s Washington D.C. Representative Office, Director General of Foreign Exchange Analysis and Investigation, and Head of the International Finance Policy Planning Team.
Furthermore, Byun was instrumental in the recovery of South Korea from the foreign exchange crisis of 1997-1998. Byun has been a contributor to SBI Digital Markets since 2023, where he has discussed innovative strategies for business development and regulatory compliance.
SBI Digital Markets’ decision coincides with South Korea’s recent regulatory reforms. On July 19, the nation will implement new crypto regulatory standards. South Korea has also taken the lead in addressing the rising threats in the crypto market.
The appointment of Byun signifies SBI Digital Markets’ dedication to not only expanding its presence in Korea but also improving its regulatory and governance frameworks. SBI Digital Markets is well-positioned to effectively navigate the implementation of new crypto regulations in South Korea, thanks to Byun’s extensive experience and strategic insight.
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