South Korea’s parliamentary audit faces limited crypto scrutiny as digital-asset bill looms

  • National Assembly committees have made few moves to review South Korea’s virtual-asset sector.
  • Early October marks the scheduled start of South Korea’s annual parliamentary audit.
  • The Democratic Party plans to advance the Digital Asset Basic Act this month.

South Korea’s annual parliamentary audit is expected to produce few major virtual-asset issues after weak market conditions reduced public and political attention. National Assembly committees have so far made limited moves to review crypto matters or request documents on specific cases. The Digital Asset Basic Act remains a potential flashpoint because legislation is scheduled for later this month and the audit is due to begin in early October. The National Assembly’s Political Affairs Committee is awaiting a government draft from the Financial Services Commission (South Korea’s financial regulator), while lawmakers may introduce a member-sponsored version if the draft is delayed. Committee chair Yoo Dong-soo is reportedly accelerating the process and has set a public hearing for late September. An Assembly official said audit witness lists will be compiled for the first time next week and that no special virtual-asset issue has emerged so far. The ruling Democratic Party plans to advance the bill this month, while a delayed draft or provisions such as ownership-dispersion rules could bring the legislation into the audit’s spotlight.

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South Korea’s parliamentary audit faces limited crypto scrutiny as digital-asset bill looms - CoinPost Terminal