South Korea’s Digital Asset Basic Act faces shelving risk this year, possibly due to government focus on stock market

CoinFeed, June 24 – According to The Korea Economic Daily, South Korea’s Digital Asset Basic Act, the second phase of virtual asset legislation, may be shelved this year. Although the National Assembly’s Digital Asset Task Force has completed the integration of eight related bills, the task force has stalled following recent changes in parliamentary leadership. The relevant standing committee, the National Policy Committee, has yet to be formed, and there are further obstacles in the overall legislative schedule. Additionally, the government, including financial authorities, has not yet submitted its own version of the bill. The media added that some market observers believe the delay is linked to the recent stock market surge—the KOSPI has surpassed the 9,000-point mark. This view suggests that financial authorities are deliberately slowing the legislative process to prevent capital from flowing into the virtual asset market while the government focuses on boosting the stock market.