Democratic Party to hold digital asset framework hearing in late September

Min Byoung-dug, senior vice chair of the Democratic Party’s policy committee, confirmed that a public hearing on a digital assets law will proceed as planned in late September, regardless of the government's bill submission. After a debate on crypto asset taxation at the National Assembly, Min stated the hearing will occur whether or not the government proposal is presented. The Financial Services Commission plans to submit its bill to the National Assembly’s Political Affairs Committee in early September, which may include relaxed rules on major shareholders' equity stakes in crypto exchanges, a significant factor in the delays of the legal framework.

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