Min Byung-deok Says South Korea to Speed Digital Asset Framework Act Talks in Second Half

Min Byung-deok, a lawmaker from South Korea’s Democratic Party, called for an overhaul of the country’s digital-asset system, saying digital assets should be viewed not simply as speculative instruments but through the lens of national competitiveness and financial innovation.

In an opening address at a policy symposium held at Hashed Lounge in Seoul’s Gangnam district on June 23, Min said the world is building a new financial and capital-markets order around digital assets and blockchain technology. The event was titled “Policy Symposium Toward Korea’s Digital G2: The Future of Digital Assets and Capital Markets — Choices for the US and South Korea.”

He said major countries, including the US, are supporting digital-asset innovation by refining regulations and institutions. South Korea’s system, however, has not kept pace with the speed of market change. The country should no longer treat digital assets solely as objects of speculation, but as part of a broader strategy for national competitiveness and financial innovation.

Min also highlighted the direction of US policy design. He said he is visiting the US this week and meeting officials from the Senate, House of Representatives and government to examine how they are designing the framework for digital assets and stablecoins.

He added that he is seeing firsthand how payments and remittances, tokenized capital markets and on-chain finance are linking into a single industrial ecosystem.

Min said South Korea needs a firm institutional foundation if it wants to emerge as a global leader in digital industries, a goal he described as becoming a “Digital G2.” Innovation, he said, must be backed by investor protection and market trust.

He pledged to speed discussions on the Digital Asset Framework Act in the National Assembly during the second half of the year. He also said he hopes the symposium will help shape the future of South Korea’s digital sector.

The symposium was organized to discuss the institutionalization of digital assets and capital markets. Policy, legal and market experts from the US and South Korea are set to discuss key issues including the Digital Asset Framework Act, stablecoins, real-world asset tokenization, security token offerings and on-chain capital markets.