Financial Services Commission Announces Plan to Operate Digital Asset Task Force by 2028

The Financial Services Commission (FSC) has announced that it will operate a Digital Asset Task Force (TF) until 2028. This initiative is aimed at preparing subordinate regulations in anticipation of the establishment and implementation of a fundamental law. According to the report titled "Policies and Trends for the Development of Financial Hubs by 2026," released on the 1st, the FSC plans to operate a TF to build infrastructure related to the digital asset ecosystem in preparation for the enactment and implementation of the fundamental law. Major countries are accelerating efforts to institutionalize the market to create a sound digital asset ecosystem, with the United States stockpiling BTC as a strategic asset and introducing the Genius Act and spot ETFs. The EU is set to implement the comprehensive regulatory framework MiCA in 2024, while Japan began issuing yen stablecoins last October. The FSC pointed out that the current regulatory framework for domestic digital assets focuses on preventing illegal activities and protecting against harm, which is insufficient from an industrial and market perspective. Accordingly, it plans to prepare the main contents of the Digital Asset Fundamental Law by 2026. Additionally, a law to institutionalize token securities is expected to pass the National Assembly in January 2026 and be implemented in February 2027. The FSC stated that it will promote the refinement of subordinate regulations and institutional improvements to build a token securities ecosystem and protect investors.

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