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Crypto

Ruling party to resume talks on Digital Asset Framework Act in September

South Korea's ruling party is expected to reorganise its digital asset task force after an August party convention and resume talks in September on a Digital Asset Framework Act. Lawmaker Park Min-gyu said the party would pursue introducing the bill after consultations between the party and the government. Key issues include who can issue stablecoins and limits on exchange ownership stakes. Industry participants called for broader safeguards and crisis mechanisms, not only issuer eligibility.

Telecommunications & Media

BCMTC grants conditional licence renewal to Blue Broadcasting after failing score threshold, 5-year term

South Korea's Broadcasting Media and Communications Commission approved a conditional licence renewal for Korea Cable TV Blue Broadcasting after it failed to meet the minimum renewal score. The renewal term was shortened to five years and includes seven conditions aimed at strengthening public interest obligations and management transparency. The company must regularly report related-party financial transactions and complete a financial restructuring plan by Dec. 31 next year.

Telecommunications & Media

User protection assessment for telecoms and platforms to focus on actual harm

South Korea's Korea Communications Commission will assess how telecommunications companies and online platforms protect users, tightening evaluation standards for operators that cause real harm. The panel expanded deductions linked to administrative penalties such as fines and corrective orders and raised deductions tied to recent social issues involving user damage. It will also add open-ended questions to a user satisfaction survey to reflect users' views on harm and recovery and increase related scoring.