Democratic Party of Korea to launch virtual asset TF soon…stablecoin and virtual asset industry law to be discussed

The Democratic Party of Korea is set to soon launch a task force (TF) that will cover virtual assets (cryptocurrency) policy overall. Stablecoin policy and the enactment of legislation on the virtual asset industry are expected to be major agenda items.

At a press briefing held on the 5th at the National Assembly in Yeouido, Seoul, Han Jeong-ae, Policy Committee Chair of the Democratic Party of Korea, said, "We are forming an in-parliament TF related to virtual assets. There are many interested lawmakers," and added, "Once TF formation is finalized, we will announce the key agenda and appointments."

Han said, "It is not appropriate for the Policy Committee to present direction first while TF discussions have not yet been formalized," emphasizing, "Even limited to stablecoins, lawmakers' opinions differ somewhat regarding the issuers. There is a need to put all of these on the table and discuss them."