South Korea’s Financial Services Commission (FSC), the country’s financial regulator, received failing-level marks in a government performance review of its digital asset policy. National Assembly member Park Min-kyu of the Democratic Party said the assessment, citing the National Assembly audit document titled the "2025 self-evaluation result report" submitted by the FSC, rated preparations for a second-phase virtual asset law as "somewhat insufficient" and efforts to establish a stablecoin regulatory framework as "insufficient." Park attributed the results to delays in legislating the Framework Act on Digital Assets. The assessment has heightened concern that taxation is moving ahead before the basic legal framework is established.