Finalizing the draft in early January and striving to complete legislation—can those be treated as the same thing? On the 13th, I came across Min Byung-duk’s remarks but didn’t quite follow them, so I went back and read them again: South Korea’s Digital Asset Basic Act aims to finalize its text in early January next year, then complete the remaining National Assembly procedures. He’s a Democratic Party lawmaker, and he sounded pretty confident. $SOL
The urgency is coming from abroad. The reason is straightforward: U.S. rules related to stablecoins are expected to take effect on January 18 next year, so South Korea needs to establish its own framework first, rather than leave a regulatory vacuum and get dragged along by outside developments. At the digital asset policy meeting in Seoul on November 12, he tightened the timeline another notch, arguing that the bill should pass during the current regular session of the National Assembly, and no later than January 18. I did the math—it’s only about two months away. $BNB
But the timeline itself is a little tangled. The key issues won’t be discussed in depth until next week, and then the industry and experts will need two months to go through them one by one. In its September 22 briefing, the Financial Services Commission had originally scheduled the second-phase legislation to be submitted to the National Assembly’s Legislation and Judiciary Committee subcommittee in November, with the main procedures targeted for completion within 2026. Meanwhile, 10 other digital-asset bills are already waiting for review in the National Assembly. One bill being finalized and ten being brought into alignment—that leaves the question of which bills take precedence and which provisions come into effect first. $XAU
Put simply, finalizing the draft is just a full stop on paper; there’s still a whole string of steps to follow.
The industry’s expectations are more concrete. At the same meeting, a vice chairman of the parent company of a local exchange said preparations for stock tokenization technology were complete and that they could roll it out as soon as regulators gave the green light. For now, tokens representing stocks such as Samsung Electronics and SK hynix can only be listed overseas, which he called a shame. Until the law takes effect, even those who are ready can only stand outside the door. I’ve checked the wording several times, and the more I look at it, the more early January seems like a starting line, not a finish line.
Personal views only; not investment advice. You are responsible for any gains or losses.
#韩国数字资产基本法预计1月初定稿
The urgency is coming from abroad. The reason is straightforward: U.S. rules related to stablecoins are expected to take effect on January 18 next year, so South Korea needs to establish its own framework first, rather than leave a regulatory vacuum and get dragged along by outside developments. At the digital asset policy meeting in Seoul on November 12, he tightened the timeline another notch, arguing that the bill should pass during the current regular session of the National Assembly, and no later than January 18. I did the math—it’s only about two months away. $BNB
But the timeline itself is a little tangled. The key issues won’t be discussed in depth until next week, and then the industry and experts will need two months to go through them one by one. In its September 22 briefing, the Financial Services Commission had originally scheduled the second-phase legislation to be submitted to the National Assembly’s Legislation and Judiciary Committee subcommittee in November, with the main procedures targeted for completion within 2026. Meanwhile, 10 other digital-asset bills are already waiting for review in the National Assembly. One bill being finalized and ten being brought into alignment—that leaves the question of which bills take precedence and which provisions come into effect first. $XAU
Put simply, finalizing the draft is just a full stop on paper; there’s still a whole string of steps to follow.
The industry’s expectations are more concrete. At the same meeting, a vice chairman of the parent company of a local exchange said preparations for stock tokenization technology were complete and that they could roll it out as soon as regulators gave the green light. For now, tokens representing stocks such as Samsung Electronics and SK hynix can only be listed overseas, which he called a shame. Until the law takes effect, even those who are ready can only stand outside the door. I’ve checked the wording several times, and the more I look at it, the more early January seems like a starting line, not a finish line.
Personal views only; not investment advice. You are responsible for any gains or losses.
#韩国数字资产基本法预计1月初定稿
