Woofun AI reports that South Korea's Financial Services Commission intends to submit the second-phase legislative bill for the "Digital Asset Basic Act" promptly. The regulator plans to place digital asset custody under independent business oversight while coordinating guideline releases with the legislative timeline.

The FSC maintains a cautious stance on forcing exchanges to separate custody operations, preferring conduct-based conflict-of-interest prevention over structural mandates.

Additionally, the framework will reference EU standards to streamline virtual asset service provider license applications for traditional financial institutions.