## People Power Party Pushes for Digital Asset Act The People Power Party (PPP) is championing the development of digital assets in South Korea, announcing plans to enact the "Digital Asset Promotion Basic Act." Kim Sang-hoon, chairman of the PPP's Policy Committee, emphasized the need to move beyond regulatory uncertainty and foster a thriving digital asset ecosystem. According to Edaily, Kim highlighted concerns about excessive government regulation driving capital away from the domestic virtual asset market. The proposed Act aims to legalize and systematically manage the digital asset market, attracting both foreign and domestic investment. ## Legalizing and Managing Virtual Assets The PPP believes that a clear legal framework is crucial for the growth of the digital asset industry. They argue that institutionalization will allow South Korea to compete effectively in the global virtual asset market. Specific bill details and related presidential pledges will be revealed on the 28th, led by Representative Park Soo-min. This move signifies a significant push towards embracing digital assets and positioning South Korea as a leader in the space. ```