SBI Digital Markets, a crypto firm under SBI Holdings, has announced the appointment of Jai Yung Byun as the Principal Consultant. This strategic move aligns with the platform’s plan to expand into South Korea and navigate the country’s evolving crypto regulatory landscape.
Strengthening Governance and Compliance
SBI Digital Markets aims to bolster its governance and regulatory compliance standards under Byun’s guidance. CEO Winston Quek emphasized that Byun’s appointment underscores the firm’s commitment to delivering excellence and driving growth in Korea, the Asia-Pacific (APAC) region, and beyond. Quek stated, “Leveraging Mr. Byun’s consultancy, we will further strengthen our governance and regulatory compliance standards to safeguard the interests of our institutional investors and partners.”
Byun’s Extensive Experience
Byun brings a wealth of experience to his new role. He has held several key positions at the Bank of Korea, including Head of the International Finance Policy Planning Team, Director General of Foreign Exchange Analysis and Investigation, and Chief Representative at the Bank of Korea’s Washington D.C. Representative Office. His significant contributions to South Korea’s recovery from the 1997-1998 foreign exchange crisis highlight his expertise in financial governance and policy.
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SBI Digital Markets’ move comes as South Korea prepares to implement new crypto regulatory norms on July 19. These regulations aim to address the growing threats in the crypto market and ensure a safer environment for investors. Byun’s appointment signals SBI Digital Markets’ commitment to not only expanding its footprint in Korea but also to enhancing its regulatory and governance frameworks.
Strategic Insight for Growth
Since 2023, Byun has been contributing to SBI Digital Markets by discussing innovative strategies for business development and regulatory compliance. His strategic insight is expected to be crucial as the firm navigates the upcoming regulatory changes in South Korea. Byun’s vast experience and deep understanding of financial systems position SBI Digital Markets to successfully adapt to these new regulations and drive growth in the region.
Jai Yung Byun’s appointment as Principal Consultant at SBI Digital Markets marks a significant step in the company’s expansion into South Korea. With his extensive background in financial governance and policy, Byun is well-equipped to help SBI Digital Markets strengthen its regulatory and compliance standards. As South Korea implements new crypto regulations, Byun’s expertise will be instrumental in ensuring the firm’s success in this evolving market.
