The People Power Party of South Korea proposed the "Digital Asset Market Integration Act," which includes provisions for allowing cryptocurrency derivatives and other related content

ChainCatcher news, according to market news, South Korean National Power Party member Kim Jae-seop has proposed the "Digital Asset Market Integration Act" as a representative. This bill is the third industry law proposal submitted to the National Assembly and is the first virtual asset industry bill proposed by South Korea's largest opposition party.

The contents of the bill include: defining the concept of digital assets, implementing a business licensing/registration system, regulating governance structures and internal controls, protecting user assets, supervising unfair trading, stipulating the issuance and redemption obligations of stablecoins, special provisions for digital asset derivatives, and establishing a professional brokerage business system, among others.