South Korea’s digital asset bill faces delay, clouding prospects for passage this year

The schedule for a public hearing on South Korea’s Framework Act on Digital Assets, which had been discussed for Sept. 30, has not yet been finalized, Asia Today reported, citing industry sources on Sept. 29. Political circles had initially discussed a timeline under which a public hearing would begin in September, followed by a review by a bill subcommittee in November and passage of the digital asset bill during the regular National Assembly session. However, with the government’s proposal submitted later than expected, the process has run into delays from the public hearing stage. With the National Assembly’s annual audit set to begin on Oct. 6 and continue for about three weeks, the public hearing and related bill discussions may slip to after November, according to the report.