The South Korean Financial Services Commission plans to complete the preparatory work for the second phase of the virtual asset bill before the regular National Assembly in September.

According to Mars Finance news, as reported by Digital Today, Kim Byung-hwan, the chairman of the Financial Services Commission of South Korea, stated that preparations for the second phase of virtual asset-related legislation (i.e., the Basic Law) are planned to be completed before the regular National Assembly session in September. In response to inquiries from Democratic Party member Min Byung-deok regarding the submission plan for the legislation at the second session of the National Assembly's Political Affairs Committee, Chairman Kim responded, "We will prepare and ensure that the legislation can be discussed during the regular National Assembly session."