Aju Business Daily exclusively reported that the Korea Insurance Training Institute (KITI) is pushing to expand new digital asset-based businesses, but the financial authorities have put a halt to it by not granting permission. On February 9, KITI submitted an application to the Financial Services Commission (FSC) for approval to amend its articles of incorporation, primarily focused on 'issuing educational tokens' and 'establishing and investing in an AI subsidiary,' but has not yet received approval. Analysts suggest that pursuing an amendment to the articles of incorporation based on token issuance is somewhat premature given that the Digital Asset Basic Act, which includes requirements for stablecoin issuance, has not yet been enacted. Moreover, there is controversy over whether expanding profit-generating businesses through token issuance or subsidiary establishment aligns with the institute's original purpose. KITI maintains that there are no issues, as the related businesses are being reviewed within the regulatory framework.
