[Bitcoin Now] Democratic Party and Korea Fintech Industry Association Hold Forum on Enactment of Digital Asset Innovation Act

Held Under the Theme of
"Follow-up Tasks and Industrial Development Directions for the Digital Asset Innovation Act"

The Korea Fintech Industry Association announced that on August 22, it held a National Assembly forum on the enactment of the Digital Asset Innovation Act under the theme "Follow-up Tasks and Directions for the Development of the Digital Asset Innovation Act" at the National Assembly Members' Office Building in Yeouido, Seoul.

On the 22nd, attendees of the "National Assembly Forum for Enacting the Digital Asset Innovation Act," hosted by the Democratic Party members of the National Assembly's Political Affairs Committee and organized by the Korea Fintech Industry Association, are taking a commemorative photo at the National Assembly in Yeouido, Seoul. Photo by Pinsanhyeop

The forum was hosted by the Democratic Party members of the National Assembly's Political Affairs Committee and organized by the Korea Fintech Industry Association. This year, the association held six related forums, with this event being the last one.

Kang Junhyun, a Democratic Party lawmaker and secretary of the ruling party on the National Assembly Political Affairs Committee, said, "At the forum, we discussed policy tasks and directions for industry development following the enactment of the Digital Asset Innovation Act, and reviewed institutional improvements required in the field." He added, "The National Assembly will continue its legislative efforts to develop the digital asset market and protect investors."

Lee Geunju, Chairman of the Korea Fintech Industry Association, emphasized, "Global venture capital investment in the digital asset sector reached 10 billion dollars (about 14 trillion won) in the second quarter, showing that digital assets are establishing themselves as a core infrastructure of the future financial ecosystem." He stressed, "Now is the time to build an industry ecosystem and secure global competitiveness through legislation."

Kang Hyeongu, an attorney at Bae, Kim & Lee LLC, stated that an institutional foundation must be established to facilitate entry into new businesses. He suggested, "Legal improvements are needed in new business areas such as spot Bitcoin exchange-traded funds (ETFs), security tokens (STOs), overseas remittance, and simple payment."

Park Hyejin, a professor at Sogang University, said, "For Korea to secure global competitiveness, it must strengthen its institutional foundation by clarifying regulations, providing flexible funding, and introducing innovative fund structures."