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The Korea Chamber of Commerce and Industry has submitted a report to the National Assembly containing 100 legislative proposals, including a call to enact a basic law on digital assets and swiftly introduce tax credits for domestic production, Digital Times reported. The chamber said on Oct. 27 that the request came ahead of bill reviews during the regular parliamentary session.
The report cited the lack of a comprehensive regulatory framework for the broader market even though more than 11 million user accounts in South Korea are able to trade virtual assets. The chamber urged swift discussions, saying a proper regulatory framework for virtual assets would reduce business uncertainty for companies and help strengthen investor confidence.