South Korea Accelerates Digital Asset Act Amid Regulatory Overhaul

The South Korean government and ruling party have pledged to accelerate efforts in the second half of this year to enact the Digital Asset Basic Act, a key component of the country's virtual-asset framework.

The Financial Services Commission will operate a task force through 2028 to draft subordinate rules and build digital asset infrastructure, including industry associations.

The commission has cited limits in the current regulatory framework, which focuses on user protection but leaves broader industry and market issues underdeveloped.