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South Korea Weighs New Statutory Crypto Association, Tapping Some DAXA Functions

South Korea Weighs New Statutory Crypto Association, Tapping Some DAXA Functions

  • South Korea’s financial authorities are reviewing the creation of an incorporated statutory crypto association as part of second-phase legislative discussions on the Digital Asset Basic Act.
  • The new statutory association could be tasked with market self-regulation, including standards for crypto listings, distribution and disclosures, monitoring suspicious and unfair trading, and mediating disputes among exchanges.
  • The timing of the association’s launch and the scope of its authority have not been finalized, and details are expected to be coordinated during National Assembly deliberations alongside the second phase of the Digital Asset Basic Act.

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Upbit Lounge in Yeoksam-dong, Seoul. Photo: Korea Economic Daily
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