South Korea's Democratic Party to fast-track digital asset act in H2

South Korea's ruling Democratic Party plans to accelerate the enactment of a second-phase basic act on digital assets during the second half of this year, the Maeil Business Newspaper reported. At a policy debate on stablecoins today, Democratic Party lawmaker Ahn Do-geol, who serves as secretary for the party's Digital Asset Task Force, said the task force is in the final stages of coordinating several contentious issues. He added that he expects the bill to be discussed with considerable speed during the latter half of the parliamentary session and that the Democratic Party is preparing thoroughly for it. Meanwhile, participants at the debate noted that stablecoins have matured beyond simple virtual assets into payment infrastructure, highlighting an urgent need for South Korea to establish a testbed for experimenting with regulations before their formal introduction.