"KISA to Reinitiate Legislation of 'Blockchain Framework Act'"

Minseung Kang

Summary

Korea Internet & Security Agency (KISA) announced plans to reinitiate legislation of the 'Blockchain Framework Act' to expand blockchain technology and promote industry growth.
The act will focus on blockchain technology adoption and industry development, and a research service proposal has been submitted.
Given that previously proposed bills were discarded due to term expiration, attention is focused on whether this initiative will yield successful results.

Korea Internet & Security Agency (KISA) plans to reinitiate legislation of the 'Blockchain Framework Act' in the 22nd National Assembly to expand blockchain technology and promote industry growth.

According to industry sources on the 20th, KISA submitted a proposal request for 'Blockchain Legal and Institutional Research' to the Public Procurement Service's KONEPS on the 7th to prepare the Blockchain Framework Act.

Unlike the Virtual Asset User Protection Act, the Blockchain Framework Act will focus on promoting blockchain technology adoption and industry development.

Previously, several bills promoting blockchain industry development were proposed in the 21st National Assembly but were automatically discarded due to the expiration of the assembly term.