South Korea’s FSC to Visit National Assembly as Digital Asset Basic Act Talks Begin

South Korea’s Financial Services Commission plans to visit offices of lawmakers on the National Assembly’s Political Affairs Committee, in a move to formally begin discussions on the Digital Asset Basic Act.

Edaily reported on July 24 that the FSC’s virtual asset division will start visiting the National Assembly Members’ Office Building in Yeouido, Seoul, that day to brief aides to ruling and opposition party lawmakers on the proposed law. The visits will continue through next week, with the FSC meeting committee members’ offices one by one.

The outreach follows the National Assembly’s completion a day earlier of the lineup for standing committees for the second half of the term. After a plenary vote, Rep. Seo Il-jun of the People Power Party was named the opposition bloc’s floor coordinator on the Political Affairs Committee. Reps. Park Soo-young, Choi Eun-seok, Song Eon-seok, Park Dae-chul, Shin Dong-wook, Park Joon-tae and Kim Jae-seob were also assigned to the committee.

The Ministry of Economy and Finance previously said in its “2026 Economic Growth Strategy” that it would push to legislate the Digital Asset Basic Act in the second half of this year.

Kim Sung-jin, head of the FSC’s virtual asset division, addressed the issue at a National Assembly forum on July 23. Asked whether the government would prepare a draft bill in the second half, Kim said it would work as quickly as possible because the Digital Asset Basic Act had been included among tasks in the government’s economic policy direction.