• Legislative Commitment: Lawmakers Hyun-jung Kim and Do-geol Ahn pledged to accelerate Phase 2 of the Digital Asset Basic Act to establish a secure foundation for corporate market participation.
• Industry Consensus: Policy makers, traditional finance leaders, and Web3 experts gathered at the National Assembly to design trusted infrastructure frameworks ahead of institutional entry.
• The BDACS Perspective: CEO Harry Ryoo emphasized that a dual-verification system anchored by ‘third-party independent custody’ is the absolute prerequisite for a successful corporate market soft landing.

BDACS cohosts National Assembly conference

BDACS, South Korea’s premier institutional-grade digital asset custody provider, successfully concluded a high-level legislative conference on opening the corporate digital asset market and building a secure ecosystem. The event took place on the 23rd at the National Assembly Member’s Office Building in Yeouido, Seoul.

Co-hosted by Democratic Party Lawmakers Hyun-jung Kim and Do-geol Ahn, and jointly organized by BDACS, the Korea Fintech Industry Association (KORFIN), and the Digital Financial Crime Response Institute, the conference convened key regulatory authorities, traditional finance (TradFi) executives, and academic experts. The primary agenda focused on the urgent regulatory and structural frameworks required to safely onboard corporate entities into the digital asset space.

Opening Speech by Lawmaker Kim & Ann

Delivering the opening remarks, Rep. Hyun-jung Kim stressed the necessity of rigorous institutional guardrails. “With corporate market participation now a reality, our critical focus must shift to facilitating this entry securely,” Kim stated. “Deploying custody infrastructure that meets exacting international standards is an absolute prerequisite to prevent systemic risks, such as cyber exploits or internal control failures. I am fully committed to ensuring the swift passage of Phase 2 of the Digital Asset Basic Act to guarantee the stable rollout of institutional-grade infrastructure.”

Rep. Do-geol Ahn echoed this urgency in his congratulatory address, highlighting the strategic benefits of institutional liquidity. “The integration of institutional and corporate capital will naturally encourage long-term, diversified investment strategies, thereby reinforcing overall market stability and liquidity,” Ahn noted. “Digital assets can truly become South Korea’s next growth engine only when we mandate transparent reserve management, global-tier security protocols, and clear legal accountability.”

The conference featured two comprehensive panel sessions designed to map out the future of institutional infrastructure.

Session 1, moderated by Professor Seok-jin Hwang of Dongguk University, explored the significance of corporate market entry and the evolving role of custody. The panel included Director Sung-jin Kim of the Financial Services Commission (FSC), Dr. Jung-doo Lee of the Korea Institute of Finance, Attorney Jae-bin Cho of Barun Law, and Vice President Chun Ryu of Hecto Wallet One. Session 2, led by Professor Jong-sub Lee of Seoul National University, focused on concrete strategies for building trust in the institutional era, featuring insights from Director Tae-ho Jung of the Korea Financial Intelligence Unit (FIU), Attorney Sang-jin Cha of Become Law, and CEO Myung-hoon Lee of Parataxis.

First Keynote by BDACS Harry Ryoo

Delivering the keynote presentation for the first session, BDACS CEO Harry Ryoo defined the upcoming corporate integration as the ultimate turning point for market maturity. He heavily underscored third-party independent custody as the backbone of this transition.

“Historical market failures, such as FTX and Mt. Gox, were fundamentally rooted in the structural flaw of commingling trade execution with asset custody,” Ryoo pointed out. “Institutional capital will simply remain sidelined without verifiable, third-party custody infrastructure.”

Ryoo also identified the impending 2027 digital asset taxation rollout, paired with expanding corporate adoption, as the optimal window to finalize regulatory architecture. “A flawless, transparent taxation framework is only viable when a dual-reporting system, cross-verifying data from both exchanges and independent custodians, is fully operational,” Ryoo proposed. “To ensure the corporate market lands safely, it is imperative that Phase 2 of the Digital Asset Basic Act strictly prohibits exchanges from operating proprietary custody services and mandates the use of independent custodians.”

Final Keynote by Kyobo Securities

Opening the second session, Director Hee-jin Shin of Kyobo Securities presented phased solutions for South Korea’s institutionalization. Shin diagnosed that the country is currently navigating a regulatory transition period, noting that true institutionalization requires more than just market access, it demands a robust trust ecosystem spanning from initial investment to incident liability. “The genuine era of institutional investors begins not when corporate accounts are merely opened, but when a multilateral trust ecosystem clearly delineates who executes the trade, who custodies the assets, and who assumes liability in a crisis,” Shin stated, highlighting the strict segregation of trading and custody as the ultimate internal control mechanism.

About BDACS

BDACS is South Korea’s absolute market leader in digital asset custody, recently surpassing 80 billion KRW in Assets Under Custody (AUC). In March, BDACS successfully acquired the SOC 1 Type 2 certification, validating its enterprise-grade internal controls and operational resilience. Leveraging this global-standard compliance, BDACS offers its proprietary ‘Prime Custody Solution’, empowering enterprise clients with secure asset management and institutional staking capabilities. Furthermore, BDACS is actively spearheading the ecosystem for ‘KRW1‘, South Korea’s first institutional-grade KRW-pegged stablecoin, in strategic partnership with global Web3 leaders including Circle, Aptos, and Plume.