The Korea Fintech Industry Association (Chairman Lee Geun-joo, CEO of Hanpass) held a discussion on the topic of "Directions for institutionalizing stablecoin issuance and transaction infrastructure for the development of the digital asset industry" at the 2nd seminar room of the National Assembly Members' Hall at 2:00 PM on the 16th, titled "A Discussion on the Turning Point of Innovation Opened by the Institutionalization of Digital Assets."
This forum was organized to comprehensively discuss the direction of stable growth and institutionalization of the digital asset market. Representatives from the National Assembly, relevant authorities, academia, the legal profession, industry, and the media attended, broadly discussing stablecoin issuance systems, transaction infrastructure development, and measures to improve the virtual asset market structure.
In his opening remarks, Democratic Party of Korea lawmaker Ahn Do-geol, who hosted the forum, stated that as discussions on institutionalizing stablecoins have reached an advanced stage, it is necessary to build consensus on key issues, such as the issuer and exchange governance structure. He also stated that he would address uncertainty in the digital asset market and promote legislation by designing a system that balances stability and innovation.
Democratic Party lawmaker Lee Kang-il emphasized the need for institutionalizing digital assets and finance, emphasizing the need to leverage digital assets as a new growth engine through institutional design that balances innovation and stability. Representative Han Min-soo also assessed the institutionalization of stablecoin issuance and transaction infrastructure as key challenges for the future financial system, expressing his hope for institutional solutions that simultaneously consider investor protection and financial innovation.
Moon Cheol-woo, president of the Digital Asset Finance Association, delivered a keynote speech, highlighting the need to shift away from uniform regulations and toward a market-oriented competitive model to enhance global competitiveness. He argued that, rather than uniformly regulating shareholding structures, financial stability and innovation should be achieved simultaneously through functional separation and diverse governance models.
In the first session, Attorney Lee Na-jeong (Like Law Firm) presented on the topic of "Design Directions for Regarding the Requirements for Stablecoin Issuers." She explained that a management system that considers financial market stability is necessary during the initial phase of system introduction. Rather than limiting issuers to banks, she proposed a plan that allows for gradual participation by various entities, predicated on the stability and supervision of reserve assets.
In the discussion moderated by Professor Shin Sang-hoon of Yonsei University, Professor Ryu Kyung-eun of Korea University and CEO Ryu Hong-yeol of Bidex participated and exchanged opinions focusing on institutional issues and user protection measures according to the issuance structure.
In the second session, Professor Kim Yun-kyung of Incheon National University presented on "Issues in the Governance Structure of Virtual Asset Exchanges and Measures for Improvement." Professor Kim noted that virtual asset exchanges are a platform industry driven by the private sector, and argued that a more accountability-focused regulatory system, including reviewing major shareholder eligibility and strengthening internal controls, is needed, rather than simply regulating shareholding ratios.
Afterwards, in a discussion moderated by Ahn Soo-hyun, Dean of the Law School of Hankuk University of Foreign Studies, Professor Lee Jeong-su of Seoul National University and Attorney Shin Yong-woo of Jipyong Law Firm participated in the discussion to discuss the direction of the system that takes into account the improvement of the exchange's governance structure and user protection.
The Korea Digital Asset Management Association (KIMMA) stated that it expects this forum to serve as a starting point for institutional discussions that will support both stability and innovation in the digital asset market.
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