Bill introduced to require re-review of existing trade-support assets within one year; six months for critic

Democratic Party lawmaker Jung Tae-ho introduced a bill on October 29 requiring South Korean crypto exchanges to re-review all previously listed digital assets within one year of the Digital Asset Market and Digital Asset Business Act taking effect, with assets deemed to pose serious risks to user protection or market order subject to expedited review within six months. The bill, formally titled the "Act on Digital Asset Markets and Digital Asset Businesses," defines "trading support" as an exchange's handling of specific digital assets for trading on its platform. Both deadlines are calculated from the law's effective date rather than the bill's introduction date. The legislation would affect all tokens currently listed on domestic exchanges, potentially forcing delistings or compliance reviews across the market. Watch for how the bill progresses through the National Assembly and whether the final version specifies review criteria for determining what constitutes "serious risk."