South KoreaAbout
Min Byung-deok was born in 1970 in Haenam, South Jeolla Province, and graduated in political science from Seoul National University. He passed the bar exam in 2002 and completed the Judicial Research and Training Institute (34th class). He was the representative lawyer of the law firm Minbon and worked with Lawyers for a Democratic Society (Minbyun) on livelihood and economic issues, including representing citizens involved in the 2008 candlelight protests.
He is a second-term Democratic Party member of the National Assembly for Anyang Dongan-gu A in Gyeonggi Province, first elected in 2020 and re-elected in 2024. He sits on the National Policy Committee, which oversees the Financial Services Commission, and has served as a senior vice-chair of the party's Policy Committee and chair of its national small business committee.
In June 2025 he introduced the Digital Asset Basic Act (bill no. 2210736) with 37 co-sponsors. The bill would set legal definitions for digital assets, create a presidential Digital Asset Committee, require FSC authorisation or registration for digital asset businesses, set a ₩500 million minimum capital for stablecoin issuers and establish a self-regulatory industry association. Through 2026 he has hosted National Assembly seminars on won stablecoins and has pressed for the phase 2 digital asset legislation to pass by the end of the year, arguing that dollar stablecoins are entering Korea faster than rules are being written.
Policy engagement
Lead sponsor of the Digital Asset Basic Act (bill no. 2210736, June 2025), the first phase 2 bill. Co-hosts National Assembly seminars on digital asset finance, including the 10 Sep 2026 seminar on institutionalising the industry.
Source: National Assembly bill information: Digital Asset Basic Act
Key actions
Said the National Assembly would push the Digital Asset Basic Act through by year-end without waiting for the government's bill, which had been promised for over a year.
SourceCo-hosted a National Assembly seminar on digital asset financial innovation with Ahn Do-geol and set out a timetable of a public hearing in September and committee review from November.
SourceAt a K-stablecoin seminar, pledged to pass phase 2 digital asset legislation in 2026 and proposed K-content payments as a use case for won stablecoins.
SourceHosted a National Assembly seminar on won stablecoins and financial infrastructure, warning that Korea risked dependence on dollar stablecoins.
SourceIntroduced the Digital Asset Basic Act (bill no. 2210736), referred to the National Policy Committee.
SourceIntroduced a Capital Markets Act amendment (bill no. 2211117) letting designated crypto assets underlie funds and derivatives, the legal route to spot crypto ETFs.
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