South Korea Establishes Digital Asset Committee for Regulatory Framework

South Korea has created a dedicated committee to shape the nation’s regulatory framework for digital assets. This committee, unveiled by the Democratic Party on May 13th, aims to draft pledges, advance legislation, and establish frameworks for virtual assets. The committee is structured into two main groups: the Industrial Innovation Growth Committee focused on boosting the nation’s leadership in the global digital economy, chaired by Professor Kang Hyung-goo; and the Policy and System Support Committee responsible for laws and regulatory frameworks, led by Dr. Yoon Min-seop.