Gate News message, April 29 — South Korea’s Federation of Small and Medium Enterprises (SMEs) called on the government to expedite the enactment of a Digital Asset Framework Act, requesting it during a meeting with the government’s Regulatory Innovation Task Force today. The federation emphasized that while the stablecoin market is growing rapidly, the absence of dedicated legislation makes it difficult for businesses to design viable business models.
The Digital Asset Framework Act is a comprehensive market regulation bill intended to govern stablecoin issuance and distribution, as well as operator licensing. According to the federation, legislative efforts have stalled since a government-ruling party coordination meeting collapsed in March.
The federation submitted 30 regulatory proposals across three categories—deregulation, clarification, and strengthening—to the task force. The Digital Asset Framework Act was classified under regulatory clarification. Additional proposals included expanding hydrogen vehicle classifications for low-emission vehicles, broadening permitted industries in aging industrial complexes, and supplementing market access procedures for medical device manufacturing startups.
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