South Korea's Virtual Asset Legislation Faces Delays Amid Political Focus Shift

South Korea's progress on Phase 2 virtual asset legislation is facing delays, despite an agreement between ruling and opposition parties to convene a bills subcommittee later this month. According to NS3.AI, the Democratic Party had initially aimed to finalize the government's draft of the Digital Asset Basic Act during a party-government consultation last month. However, this meeting was postponed indefinitely as the government redirected its attention to addressing the U.S.-Iran conflict.