South Korea’s Financial Services Commission said it will speed up submission of the government’s Digital Asset Basic Act bill so substantive discussions can begin at a National Assembly subcommittee in November.

Seo Na-yoon, head of the FSC’s Virtual Asset Division, made the remarks on September 22 at a seminar held in the National Assembly’s First Seminar Room titled “U.S. Crypto-Asset Financing Policy and South Korea’s Digital Asset Legislative Challenges.”

“The FSC wants this bill to pass as quickly as anyone,” Seo said. “We share the view that discussions need to take place at the subcommittee in November.”

Seo also said the basic law is intended to include not only some of the issues now under debate, but also the broader regulatory framework covering digital-asset issuance, distribution and market-entry rules.

Media coverage has focused mainly on contentious issues, she said, but both bills proposed by lawmakers and the framework the FSC is reviewing are meant to address all aspects of issuance and distribution in the market. Market-entry regulation is also under discussion.

She pushed back, however, on suggestions that the FSC has already settled the details of those issues.

“There is absolutely no case in which the FSC, at the government level, has already reached a conclusion,” Seo said, adding that the agency is still discussing the details.