South Korea's Financial Services Commission (FSC) will operate its virtual assets task force until 2028, in preparation for the implementation of the Digital Asset Basic Act.

South Korea's Financial Services Commission (FSC) announced it will operate a digital asset task force until 2028 to prepare for the enactment and implementation of the Digital Asset Basic Act, including advancing preparations for subordinate legislation and building digital asset ecosystem infrastructure. The FSC noted that South Korea's current digital asset regulatory framework has so far focused primarily on cracking down on illegal activities and preventing investor losses, while institutional development at the industry and market levels—covering operational conduct, information disclosure, and asset issuance and circulation—remains insufficient. Accordingly, the FSC plans to, through the Virtual Assets Committee and consultations between political parties and the government, finalize the core provisions of the Digital Asset Basic Act by the end of 2026 and promote the establishment of a more robust comprehensive regulatory system. The FSC also pointed out that South Korea is advancing the development of a digital asset-related ecosystem, with plans to improve infrastructure centered on organizations such as industry associations. The report further noted that the law on the institutionalization of South Korea's security tokens (ST) was passed by the National Assembly in January 2026 and is scheduled to take effect in February 2027, with the FSC continuing to refine relevant subordinate regulations and supporting systems.