South Korea Takes Steps Toward Clearer Crypto Rules

Earlier this month, as South Korea’s presidential election unfolded, Oihyun Kim from BeInCrypto found herself in an unexpected role—advising on digital asset policy for the incoming administration. She joined the campaign’s digital economy task force, led by National Assembly member Min Byung-duk, to help draft what could become the country’s first comprehensive crypto law.

The proposed legislation, called the Basic Law on Digital Assets, isn’t just another regulatory tweak. It’s an attempt to lay down clearer rules for everything from blockchain projects to investor protections. And given South Korea’s huge, often volatile crypto market, it’s a big deal. The ruling party officially submitted the bill on June 10, and if passed, it’ll likely set the tone for years to come.

Why This Matters

For Oihyun, the experience was more than just policy work. “Being part of this at such a critical moment really showed how important it is to connect the crypto world with government,” she said. “At BeInCrypto, we don’t just report—we try to be part of the conversation.”

That conversation has been loud. The bill’s introduction made waves in Korean media, with outlets like KBS, The Chosun Daily, and Maeil Business Newspaper all covering it extensively. Some see it as overdue, others as risky—but either way, it’s a sign that crypto regulation is no longer on the sidelines.

What’s Next?

South Korea’s crypto scene is massive, but it’s also been a bit of a wild west. High-profile scandals and market crashes have pushed regulators to act, though not always smoothly. This new law could change that, but it’s still early. The details—how strict it’ll be, how it handles decentralization, whether it stifles or helps innovation—are still up for debate.

And while the bill’s progress is promising, there’s no guarantee it’ll pass without hiccups. Politics, as always, could get in the way. But for now, it’s a step toward something more structured.

Oihyun’s involvement, along with BeInCrypto’s broader work across 50 countries, hints at a bigger shift. Crypto isn’t just a niche topic anymore—it’s becoming part of the policy mainstream. Whether that’s good or bad depends on who you ask, but it’s definitely happening.

For more on how the election might shape Korea’s crypto future, you can find deeper analysis [here]. Or don’t. Either way, things are moving.