"Accelerating Legislation for the Digital Asset Basic Act… KBIPA TF Launch Signals Public-Private Cooperation"

As discussions on the enactment of the Digital Asset Basic Act are intensifying, a policy platform that bridges the industry and the legislative field has been launched.

On the 7th, the Korea Blockchain Industry Promotion Association (KBIPA) announced the inauguration ceremony of the 'KBIPA Digital Asset TF for the Promotion of the Digital Asset Industry' at the auditorium on Basement 1 of the National Assembly Library, stating that the organization will begin division-specific activities to analyze the impact of related bills on the industry and to reflect the industry’s opinions in the legislative process.

The newly launched TF is composed of four divisions focusing on key issues such as stablecoins, token securities, spot ETFs, and legislative support. It is a standing organization that involves digital asset service providers, technology companies, legal and accounting experts, academia, and financial industry figures. The TF will operate until the enactment of the Digital Asset Basic Act is completed, with plans to systematically carry out the entire process from issue discovery and discussion to policy recommendations and external communication.

Kim Hyung-joo, Chairman of the Korea Blockchain Industry Promotion Association, remarked in his opening speech, "The Digital Asset Basic Act is an essential foundation to harmoniously achieve both investor protection and industrial innovation," adding, "With the launch of this TF, we hope the government, National Assembly, and industry will closely cooperate to advance as a global digital finance leader."

Lee Hak-young, Vice Speaker of the National Assembly, stated via a video address, "The Digital Asset Basic Act is a key legislative task for the sound development of the industrial ecosystem." He also emphasized, "I hope the TF serves as a bridge between the National Assembly and the industry, making practical contributions to legislative design." He added, "Through free and active discussion among participants, I look forward to seeing practical and constructive policy proposals emerge, which can then be proactively reflected in legislation by the National Assembly."

Koo Yoon-cheol, Deputy Prime Minister and Minister of Economy and Finance, said, "Digital assets are fundamentally transforming the paradigms of the economy and society," noting, "The government will also work to expand regulatory innovation and infrastructure so that private sector creativity and technological prowess can flourish." He continued, "The Digital Asset TF is expected to contribute to the healthy growth and development of the digital asset industry and serve as a bridge for policy communication between the public and private sectors."

Min Byung-duk, member of the Democratic Party of Korea, stressed, "For digital assets, the issue is not direction but speed," adding, "A won-based stablecoin is more than a mere technical choice; it is a strategic means to safeguard financial sovereignty and should be introduced at the national level." He further stated, "The digital asset industry should not be regarded as a peripheral experiment but must be defined as a national strategic industry, and the National Assembly will support this accordingly."