Reopening Institutional Dialogues to Drive Legislative Synergy in H2

With the final structuring of the 22nd National Assembly for its second half, legislative momentum for the Digital Asset Basic Act and corporate market access is gaining unprecedented traction. Concurrently, direct communication channels between regulatory heads and industry chiefs have reopened. Digital asset enterprises, including BDACS, are shifting gears to fortify internal controls, positioning themselves to capitalize on this major transition toward a fully institutionalized market.

Financial Supervisory Service (FSS) Governor Lee Chan-jin met with digital asset executive leadership for the first time in nine months to gather strategic consensus on expediting the Digital Asset Basic Act.
Representing the digital asset custody and infrastructure sector, BDACS CEO Harry Ryoo shared critical feedback during a post-meeting press brief, confirming that participants exchanged practical operational challenges and reached a firm consensus on raising the bar for internal control standards.

Engaging FSS Leadership and Advocating for Infrastructure Growth

On-Site Regulatory Advocacy: Financial Supervisory Service (FSS) Governor Lee Chan-jin met with digital asset executive leadership for the first time in nine months to gather strategic consensus on expediting the Digital Asset Basic Act. Representing the digital asset custody and infrastructure sector, BDACS CEO Harry Ryoo shared critical feedback during a post-meeting press brief, confirming that participants exchanged practical operational challenges and reached a firm consensus on raising the bar for internal control standards. Pointing to the demanding business landscape facing infrastructure providers like custodians, CEO Ryoo urged regulators to maintain continuous institutional support and clear communication throughout the regulatory shift. He finalized by stating that the dialogue heavily converged on passing the framework, with the FSS Governor committing to working hand-in-hand with the National Assembly to ensure swift legislative execution.

Assembly Reorganizes to Fast-Track Phase 2 Legislation and Corporate Access

Capitalizing on Policy Committee Consolidation: Following the restructuring of the 22nd National Assembly, six out of nine former Democratic Party Digital Asset Task Force members have been strategically deployed to the National Policy Committee. This alignment of veteran policy experts is anticipated to maximize legislative synergy. Notably, the lawmaker who spearheaded the Phase 2 framework for stablecoins has been designated as the committee’s executive secretary, significantly clearing the runway for accelerated policy resolution.
Trilateral Alliance for STO and Corporate Market Access: The Financial Services Commission (FSC) Vice Chairman officialized plans to fast-track stablecoin guidelines under the Digital Asset Basic Act, reinforcing commitments to unlock corporate market access and complete the STO institutionalization roadmap. Echoing this urgency, the Federation of Korean Industries (FKI) met with the Deputy Prime Minister for Economic Affairs, warning that while leading jurisdictions such as the US, Japan, and Germany have already adopted STO-optimized stablecoins as standard payment methods, Korea faces stagnation without immediate legislative backing, demanding the swift passage of the basic act.

▶ Sources: News1 | Edaily 1 | Edaily 2 | Edaily 3 | Edaily 4