South Korea's Digital Asset Basic Act faces a month-end deadline, legislation may be delayed again until the first half of next year.

September 13 - The submission of the South Korean government's bill for the "Basic Act on Digital Assets" has entered the final window for this month. The Financial Services Commission originally planned to submit the legislator's bill in the name of Yoo Dong-soo, chairman of the National Assembly's Political Affairs Committee, within this month, but the schedule has been delayed. The ruling party plans to hold hearings as scheduled in late this month, but if the government bill is not submitted, the hearings may become a repetition of previous discussions. If missed this month, due to the overlapping impact of the October parliamentary audit and budget review, final passage may be delayed until the first half of next year.

The South Korean Democratic Party also proposed an amendment to the "Capital Markets Act," intending to allow non-monetary assets such as real estate, art, and intellectual property to be issued as trust beneficiary securities, which is expected to be discussed at the National Assembly's Political Affairs Committee bill subcommittee on September 15. At the same time, it demands a re-examination of the timing for virtual asset taxation in January next year, as information such as on-chain wallets, airdrops, and hard forks is difficult to automatically interface with tax authorities, and suggests raising the basic deduction amount and introducing loss carryforward deductions.