South Korea Financial Services Committee Chairman Nominee: Cryptocurrencies lack intrinsic value

According to ChainCatcher, on September 1, 2025, Li Xuyuan, chairman of the Korea Financial Services Commission (FSC), said in a written response to the confirmation hearing that cryptocurrencies lack intrinsic value and cannot serve as a store of value or medium of exchange due to high volatility, and expressed concerns about investing in crypto assets for pensions. The remarks have sparked strong opposition from the South Korean crypto industry, and industry insiders believe that the views are regressing, especially as global institutions actively adopt cryptocurrencies. It is worth noting that Li Xuyuan is open to stablecoins and said that he will support South Korea's local stablecoin development plan and seek a balance between innovation and regulation.