South Korea may push forward Digital Asset Basic Act this year, though passage could slip to first half of next year

South Korea is preparing to move ahead with its proposed Digital Asset Basic Act, according to MK, which cited Min Byung-deok, a lawmaker from the Democratic Party of Korea. He said the bill is expected to be pushed within this year, with a public hearing planned for this month and formal legislative review set to begin in November after the national audit ends. The timeline is not fixed. Because the National Assembly still faces the national audit and budget review process, the legislative schedule could be pushed back to the first half of next year. The report also said South Korea’s Financial Services Commission has released a phased roadmap for security token offerings, or STOs. At the same time, financial institutions are carrying out tokenization system tests and working on cooperation tied to global infrastructure. Taken together, the moves indicate that South Korea’s digital asset oversight is moving beyond policy discussion and toward implementation planning.