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South Korean Lawmaker Targets Year-End Passage for Digital Asset Basic Law
Commercial Services · Financial Publishing/Services · yonhap_finance · 2026-09-10
South Korean lawmaker Min Byung-duk plans to hold public hearings this month to expedite the Digital Asset Basic Law, aiming for passage by year-end.
What Happened
Legislative Timeline: South Korean lawmaker Min Byung-duk has announced plans to finalize the Digital Asset Basic Law by the end of this year. The legislative process will kick off with public hearings this month, followed by intensive subcommittee discussions in November to ensure a timely conclusion.
Urgency for Regulation: Lawmakers emphasized that South Korea must accelerate the institutionalization of digital assets to keep pace with global financial trends. They argued that establishing a functional regulatory framework is more critical than waiting for a perfect legislative outcome.
Expert Recommendations: Legal and financial experts suggested that domestic regulators should create a blueprint for the digital asset ecosystem. They highlighted the importance of incorporating industry expertise into the legislative process to ensure the regulations are practical and effective.
Infrastructure Development: Industry representatives noted that introducing spot ETFs and other financial products requires significant legal amendments and robust risk management infrastructure. They proposed a phased approach, starting with single-asset ETFs to build market stability and operational experience.