'Democratic Party Accelerates 'Basic Law on Virtual Assets'..."Must Be Established Quickly Under New Government"

Min Byung-deok, a member of the Democratic Party of Korea, stated on the 15th that "the Basic Law on (Digital Assets) should be quickly established under the new government."

On this day, Rep. Min attended the 'National Assembly Forum for the Establishment of the Basic Law on Digital Assets' held at the National Assembly Members' Office in Seoul and said, "(Institutionalizing virtual assets) is as important in speed as it is in direction." He expressed regret that "although Korea has the infrastructure to operate (the virtual asset industry) well, it is being delayed due to perspectives," and added, "I wonder if we are being too cautious about (the Basic Law on Digital Assets)."

Rep. Min emphasized, "I will accelerate the institutionalization of virtual assets." He stated, "If (virtual assets) are externalized as Security Token Offerings (STO), the market will expand," and "I believe it would be efficient to discuss with tools to proceed with (institutionalization) quickly." He added, "After completing discussions with the National Assembly's Political Affairs Committee and the Korea Fintech Industry Association, we will immediately proceed with the establishment of the Basic Law on Digital Assets."