| Mobile Web

Search results for June 3 local elections

Crypto

Local elections over, but digital asset framework act still unclear

Expectations are rising that talks on a basic law for digital assets will resume after South Korea’s June 3 local elections, but passage this year remains uncertain. Review depends on finalising the National Assembly’s second-half leadership and restructuring the political affairs committee. The government’s proposal is seen as a key variable and could revive disputes over exchange shareholder limits and won-based stablecoin issuance. Industry and regulators remain divided over priorities.

Finance

ELS fines cut to 600 billion won after local elections, financial policy in focus

With the June 3 local elections over, attention in South Korea’s financial sector is shifting back to financial authorities and the National Assembly. Issues that lost traction during the campaign, including governance reform at financial holding firms, digital asset regulation, loan rules for non-resident single-homeowners and a compensation liability system for voice phishing, may return to the agenda in the second half. Regulators have also adjusted ELS sanctions and stepped up work on consumer protection and AI security threats.

Finance

Governance reform, digital assets legislation in focus as financial agenda may accelerate after election

South Korea\'s financial sector is turning its attention to regulators and parliament after the June 3 local elections, with a range of delayed policy issues expected to return to the agenda in the second half. These include governance reforms at financial holding firms, possible restrictions on jeonse loans for non-resident single-home owners, a no-fault compensation scheme for voice phishing victims, the Digital Assets Basic Act and revisions to the Microfinance Act.