The 'National Assembly Forum for the Enactment of the Basic Digital Asset Act', hosted by Democratic Party of Korea member of the National Assembly Kang Jun-hyun and organized by the Korea Fintech Industry Association , was held on the 6th in the 9th conference room of the National Assembly Members' Hall.
This forum was moderated by Director Yoo-shin Jeong of the Digital Economy and Finance Research Institute, and was followed by ▲ expert presentations on the legalization of the digital asset market and measures for corporate participation ▲ panel discussions.
In his opening remarks, Rep. Kang Jun-hyun said, “For the sound development of the digital asset industry, the participation of financial companies and corporations is essential, and it is urgent to establish a legislative foundation for this,” and added, “I hope that today’s forum will be an important first step toward enacting the Basic Digital Asset Act.” In addition, Lee Geun-joo, Chairman of the Korea Fintech Industry Association, emphasized that “A clear legal and institutional framework is necessary for the development of the digital asset market,” and that this discussion will be an important turning point.
In the opening remarks, ▲ Professor Lee Jong-seop of Seoul National University's College of Business Administration presented on 'Blockchain's institutional use cases and implications.' Professor Lee explained the possibility of applying blockchain technology to the financial sector and domestic application plans based on overseas cases, and predicted that the transition to blockchain-based finance and data industries would accelerate. He also added that regulations and policies that allow corporate participation are necessary.
Next, ▲Attorney Hwang Hyeon-il of Sejong Law Firm presented on the ‘Regulatory Framework for Sound Market Operation.’ Attorney Hwang analyzed the regulatory environment of the digital asset market, presented policy directions for securing legal stability, and emphasized the need to promptly allow corporate investors to participate in the market.
▲Kim Gap-rae, the head of the Capital Market Research Center, presented ‘Digital Asset Legislation Trends of the New U.S. Government’ and discussed the direction of digital asset legislation in the U.S. and domestic response measures. He explained the status of stablecoins and tokenization in the U.S. and said that Korea also needs a policy response in line with changes in the global market.
In the comprehensive panel discussion, President Jeong Yu-shin served as the moderator, and ▲Professor Lee Jong-seop ▲Attorney Hwang Hyeon-il ▲Center Director Kim Gap-rae ▲Financial Services Commission Director Kim Seong-jin ▲NH Investment & Securities Researcher Hong Seong-wook ▲Infinite Block CEO Jeong Gu-tae attended and shared various opinions.
This forum is the first in a series of forums to prepare the second phase of the digital asset bill, which will be held over a total of six times. The next forum will be held on March 5, and discussions on the establishment of a stable coin system will follow.
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