Democratic Party Members of the Political Affairs Committee Unanimously State: "Digital Asset Legislation Can No Longer Be Delayed"

Members of the Democratic Party of Korea in the National Assembly's Political Affairs Committee emphasized the urgency of enacting digital asset legislation and collectively called for accelerating discussions on the matter.

At the “National Assembly Forum for Enacting Digital Asset Innovation Bills” held at the National Assembly on the 30th, Kang Jun-hyun, a committee member, stated, “The United States is swiftly promoting digital asset policies, including stablecoins,” and evaluated, “It is encouraging that the current government has begun earnest discussions on the topic.” He added, “We will strive to bridge the differences between the public and private sectors and make efforts so that legislative proposals are submitted promptly.”

Yoo Dong-soo, another committee member, remarked, “The United States has passed three key laws, including the Genius Act, joining the trend of institutionalization,” and emphasized, “It is urgent for us to introduce a Korean-style ETF to protect the value of the won.” Kim Seung-won also stated, “The National Assembly will do its best to create good legislation.”

Min Byung-deok stated, “The digital asset tsunami is already sweeping through the United States,” and criticized, “Simply maintaining caution and standing by as mere observers is essentially a dereliction of duty.” He continued, “The policy authorities should quickly present their proposals, and the National Assembly and private sector must swiftly review the proposed bills.”

He further noted, “For digital asset legislation, lawmakers must understand the market better than anyone else,” and pointed out, “The Anti-Corruption and Civil Rights Commission’s investigation into whether lawmakers hold virtual assets was a misguided approach.” He explained that “lawmakers should be encouraged to engage with virtual assets from the perspective of understanding the market, not for personal gain.”

Lee Kang-il remarked, “It is unfortunate that lawmakers who have never even invested are discussing a Korean-style Bitcoin ETF,” and stated, “Although Korea is losing global hegemony in the capital market, if we expedite legislative action now, we can still catch up.”