The South Korean Financial Services Commission plans to complete the preparations for the second phase of the virtual asset legislation before the regular National Assembly in September

ChainCatcher news, according to Digital Today, the Chairman of the Financial Services Commission of Korea, Kim Byung-hwan, stated that preparations for the second phase of virtual asset-related legislation (i.e., the "Basic Law") are planned to be completed before the regular National Assembly session in September.

At the meeting of the National Assembly's Second Political Affairs Committee, in response to a question from Democratic Party member Min Byung-deok regarding the submission plan for the legislation, Chairman Kim responded, "We will prepare to ensure that the legislation can be discussed during the regular National Assembly session."