"Will passage of the Digital Assets Basic Act be delayed in the first half…Possibility of exclusion from the National Policy Committee agenda"

The Digital Assets Basic Act (second-phase legislation) is reportedly being left out of the National Assembly’s discussion schedule, fueling views that whether it can be processed in the first half of the year has become uncertain.

According to industry sources on the 24th, the Democratic Party of Korea is said not to have included the bill on the agenda for the Legislation Review Subcommittee of the National Policy Committee, scheduled for the 31st and next month. While the committee plans to convene the subcommittee, there are forecasts that it will be practically difficult to table and deliberate the Digital Assets Basic Act.

With the ruling party prioritizing local elections and bills related to the people’s livelihoods and the economy, interpretations suggest the timetable for discussions on the Digital Assets Basic Act is also uncertain. Schedules for party-government consultations and the task force (TF) have reportedly yet to be set as well. In the market, more weight is being placed on the possibility that deliberations on the bill will be delayed.