Democratic Party of Korea: Legislative discussions on a basic law for digital assets will officially begin after local elections.

CoinFeed reported on April 16 that, according to the Seoul Economic Daily, Lee Jung-moon, chairperson of the Democratic Party's Digital Asset Task Force, stated at a press conference that discussions on a basic law for digital assets will officially begin after the local elections on June 3. As a first step, a relevant bill is planned to be submitted to the Political Affairs Committee's bill subcommittee on April 27. The Democratic Party's Digital Asset Task Force (TF) stated that it has completed internal coordination on the legislative direction, opposing the restrictions on shareholdings by major shareholders of exchanges and the proposal requiring banks to hold more than 50% of shares in the Korean Won stablecoin issuance alliance, advocating that shareholding restrictions should be excluded from the first phase of legislation. The task force also stated that if the government delays submitting the bill, it will consider submitting the bill proactively first, followed by further discussions after the government's proposal is released.