Kang Jun-hyun to host 'Digital Asset Innovation Act Public Briefing' on the 17th

Kang Jun-hyun, a member of the Democratic Party of Korea, will hold a 'Digital Asset Innovation Act Public Briefing'.

According to the industry on the 14th, Kang, who serves as the secretary of the National Policy Committee in the National Assembly, announced that he will hold the 'Digital Asset Innovation Act Public Briefing' at the 2nd Conference Room of the National Assembly Members' Office Building on the 17th. The event is co-hosted by Democratic Party of Korea lawmakers belonging to the National Policy Committee and organized by the Korea Fintech Industry Association.

This briefing follows the ongoing discussions of four previous 'National Assembly Forums for the Enactment of the Digital Asset Basic Act'. It is explained that the direction of the proposed legislation reflects the aims of the Lee Jae-myung administration to secure technological sovereignty and foster future industries by cultivating digital assets as a new industry, while also including provisions for consumer protection and the regulation of unfair trade.

The Digital Asset Innovation Act is a follow-up bill to the 'Virtual Asset User Protection Act', which includes the classification of digital asset business operators, the establishment of function-based regulatory frameworks, and standards for anti-money laundering. At the briefing, key provisions, legislative intent, the progress so far, and the future schedule will be explained.

Kang said, "This is a preliminary process to share major contents of the bill—such as the classification of digital asset businesses and the regulatory framework for the issuance and distribution of stablecoins—with the industry, and to minimize market confusion," adding, "It will serve as a starting point for the government, National Assembly, and industry stakeholders to build consensus and continue discussions on institutionalization."