According to ME News, on October 22 (UTC+8), Lee Eog-weon, Chairman of the Financial Services Commission of South Korea, stated during a parliamentary hearing on Thursday that discussions on the Digital Assets Basic Act are nearing completion, and the government will strive to enact the bill as soon as possible. The legislation aims to establish a comprehensive framework for crypto assets, including a licensing system for exchanges, rules for stablecoin issuance, and clearer legal definitions.
Additionally, Lee Eog-weon stated at the hearing that cryptocurrency taxation should “fully consider various circumstances.” South Korea’s cryptocurrency tax plan, originally scheduled to take effect on January 1, 2027, has been delayed three times due to concerns over fairness and inadequate infrastructure. (Source: Foresight News)
Chair of South Korea's Financial Services Commission: Negotiations on the Digital Asset Basic Law Are Nearly Complete
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Summary
South Korea’s digital asset regulatory framework is nearing finalization, as revealed by Financial Services Commission Chair Lee Eog-weon during a parliamentary session on October 22, 2026. The Digital Asset Basic Law will address crypto asset classification, exchange licensing, and stablecoin regulations. Lee stressed the importance of balancing taxation with market realities. Originally scheduled for 2027, the tax plan has been delayed three times due to infrastructure and fairness concerns. The government aims to submit the bill shortly.
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