The Democratic Party of Korea is expected to push for the introduction of a digital asset framework bill around September, according to a party lawmaker.
Rep. Park Min-gyu of the Democratic Party, a member of the National Assembly's Political Affairs Committee, said Wednesday at a seminar on second-half legislative prospects held at Hotel Naru Seoul MGallery in Mapo-gu, Seoul, that discussions on digital asset legislation are expected to regain momentum after the party's August convention. The convention is scheduled for Aug. 17, after which the new party leader is expected to appoint a policy committee chair — a move that would likely determine the composition and direction of the digital asset task force alongside the floor leadership.
"Once a new policy committee chair is appointed after the convention and the task force is back in operation, the Political Affairs Committee, the presidential office and related ministries will discuss the timing for introducing the framework bill — and I think that will be decided around September," Park said.
He said the period from the second half of this year through next summer represents a "golden window" for advancing digital asset regulation. With local elections now concluded and the general election scheduled for April 2028, the time available to pursue major policy initiatives in a stable environment is limited, he said.
Park also raised concerns about the lack of interagency coordination on domestic digital asset policy compared with the United States. "I understand that White House staff handling digital asset matters hold meetings with related agencies — including the Commodity Futures Trading Commission, the SEC and the Treasury Department — three or four times a week," he said, adding that "that kind of coordination will be necessary going forward in the legislative process for the framework bill."
kyoung@heraldcorp.com
