South Korea’s first virtual asset law was passed in a plenary session of the National Assembly. It has been about two years since the last 2021 Act was first published.
The National Congress held a plenary meeting on the 30th to vote on the “Virtual Asset User Protection Act” to protect virtual asset investors, and it was passed with 265 votes in favor and 3 abstentions.
Since the virtual asset industry bill first appeared in May 2021, the plenary threshold has been crossed. As an alternative, the “Virtual Asset User Protection Act”, which was passed by the Legislative Review Panel of the Political Committee of the National Assembly last month, was passed in the Legislative Judiciary Committee on the 29th.