As the legal foundation to support the blockchain industry remains insufficient, the legal community has renewed calls for a technology-oriented “Blockchain Basic Act.”
 

At the “2025 Blockchain Grand Week × Web 3.0 Conference,” held on November 4 at COEX in Seoul, Ohoon Kwon, managing partner at Cha & Kwon Law Offices, emphasized that enacting a technology-focused Blockchain Basic Act is the starting point for revitalizing the industry. He urged the government to establish clear interim standards and legal guidelines to reduce uncertainty for businesses.
 

Mr. Kwon pointed out that Korea’s current legal framework is centered on financial risk management rather than the advancement of blockchain technology, leaving the industry without a solid institutional base. He warned that persistent legal ambiguity could discourage companies and hinder technological innovation. Referring to the European Union’s DLT (Distributed Ledger Technology) sandbox system and the U.S. Clarity Act, he suggested that Korea should move beyond asset-focused regulation toward a technology-based legal framework.
 

He proposed that the new law should explicitly prohibit discrimination against blockchain-based records, define the criteria for reliable blockchain systems, legally recognize smart contracts, introduce a government-led interim standard system, and acknowledge distributed ledger records as valid written documents.
 

Kwon added that the Blockchain Basic Act should not simply aim to promote technology but should also guarantee the legal validity of blockchain-based activities and strengthen the government’s role in fostering innovation. He noted that such a foundation would enable stable growth across emerging sectors such as digital identity (DID), virtual assets, and real-world asset tokenization (RWA).
 

The conference, hosted by the Ministry of Science and ICT and co-organized by the Korea Internet & Security Agency (KISA) and the Institute of Information & Communications Technology Planning & Evaluation (IITP), brought together over 300 participants and 50 companies from finance, blockchain, and academia to discuss the institutional integration of next-generation technologies including stablecoins, AI, DID, and RWA.
 

URL: [블록체인 진흥주간 2025] “블록체인 기술 차별 안 돼”…기술 중심 블록체인 기본법 촉구 - TokenPost