South Korean lawmaker Kim Jae-seop from the People Power Party has introduced the Digital Asset Market Integration Act, marking the first regulatory legislation on virtual assets proposed by the opposition party. The bill outlines a comprehensive framework including the definition of digital assets, licensing and registration for operators, user asset protection, regulation of unfair trading practices, stablecoin issuance with a five-day redemption obligation, legalization of virtual asset derivatives, and the establishment of a specialized digital asset intermediary system.