The Financial Services Commission of South Korea will finalize the phase 2 draft on the law related to digital assets before the regular session of the National Assembly in September.
Chairman Kim Byung-hwan confirms preparations for drafting a basic law on digital assets that can be discussed at the regular session, demonstrating a commitment to promote a legal framework for cryptocurrency in South Korea.
MAIN CONTENT
The Financial Services Commission of South Korea is expected to complete phase 2 of the digital asset law before September.
Chairman Kim Byung-hwan is committed to facilitating the discussion of the Basic Law on digital assets in the National Assembly.
The plan aims to promote a clear legal framework supporting the development of cryptocurrency in South Korea.
What is the Financial Services Commission of South Korea preparing for the draft law related to digital assets?
The commission is proceeding to finalize the last preparations for phase 2 of the digital asset law draft, also known as the Basic Law. Chairman Kim Byung-hwan affirmed this commitment at the second Political Committee meeting of the National Assembly, highlighting the importance of a well-structured legal corridor for cryptocurrency.
The completion of the draft preparation is a strategic move to provide a synchronized legal framework, in line with the rapid development of the digital asset market, while enhancing transparency and user protection.
When will the draft law plan be presented and discussed?
Chairman Kim Byung-hwan responded to Representative Min Byung-deok's question about the timeline for presenting the draft in the National Assembly, confirming that preparations will be made to ensure that the digital asset law can be discussed in the regular session in September.
The presentation and discussion in the National Assembly's session are important not only for refining the law but also for facilitating policies that encourage the structured and safe development of cryptocurrency, aligning with global trends.
The importance of the legal framework for digital assets in South Korea
The construction and completion of the digital asset law help create a clear legal environment, promoting healthy development of cryptocurrency projects, avoiding legal risks and frauds. South Korea is positioning itself as a leading fintech hub in Asia with a special focus on this sector.
The Basic Law not only ensures the rights of investors but also contributes to promoting market transparency, thereby strengthening trust and attracting more investment into the digital asset sector.
Frequently Asked Questions
When will the draft of the digital asset law phase 2 be completed?
The draft is expected to be completed before the regular session of the National Assembly of South Korea in September, committed by the Chairman of the Financial Services Commission, Kim Byung-hwan.
When can the draft digital asset law be discussed in the National Assembly?
The law will be prepared for official presentation and discussion in the regular session of the National Assembly in September.
Why does South Korea focus on building a legal framework for digital assets?
The legal framework helps enhance transparency, protect investors, and promote stable development of the cryptocurrency market.
What role does the Financial Services Commission of South Korea play in this?
The commission is responsible for drafting and finalizing the law, ensuring its legality and feasibility for the digital asset sector.
How does this legal plan affect the cryptocurrency industry in South Korea?
The law will facilitate development while attracting investment and enhancing the regulatory level of the market.
Source: https://tintucbitcoin.com/uy-ban-tai-chinh-chuan-luat-so-giai-doan-2/
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