Digital Asset Basic Law: Legislative Push and Key Issues
Discussions on the Digital Asset Basic Law are expected to be proposed in the form of a member's bill in September. This is a choice aimed at facilitating a quicker submission of the bill compared to government legislation. The Digital Asset Basic Law is a two-phase legislation that includes regulations on the issuance and circulation of virtual assets and operators, with the goal of establishing the basic order of the market. Currently, there are conflicting opinions regarding the issuers of stablecoins, and discussions are ongoing about restrictions centered on banks and the opening of participation for non-bank companies. There is also a need to limit concentration of power and conflicts of interest regarding major shareholder regulations. The core of the Digital Asset Basic Law is how much the bill can provide answers to the market. The law must present clear standards for market entry, stablecoin issuance, and the governance structure of operators. The predictability of regulations plays a crucial role in corporate investment decisions, and pushing the government review into a member's bill seems to be a choice aimed at shortening this timeline. The submission of this bill will be the first test to concretize the policy choices that the government and the National Assembly have postponed.
-- Price
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