South Korea digital asset bill faces more hurdles in second-half debate

A bill to establish a legal framework for South Korea’s digital asset industry has remained stalled in the National Assembly for more than a year, and disagreements over key issues are likely to make a resolution difficult, Yonhap News Agency reported. South Korea’s ruling Democratic Party is expected to wrap up its national convention on Aug. 17, and the party appears set to restart its digital asset task force once its policy committee is formed. The Democratic Party and the government see the regular National Assembly session in September as a turning point for processing the bill. However, the outlet said disagreements over two core issues — the issuance structure for won-based stablecoins and limits on major shareholders’ equity stakes — could make it difficult to reach agreement before the September plenary session.