Financial News Vice Chairman Jeon Seon-ik: "The General Act on Digital Assets Will Become the Foundation for On-chain Payments After Enactment" [Tokenomy Korea 2026]

[Financial News]  "After the General Act on Digital Assets is enacted, it will become the foundation for the emergence of the Korean won stablecoin and the on-chain payment market."
Jeon Seon-ik, vice chairman of Financial News, opened his remarks at the opening ceremony of 'Tokenomy Korea 2026,' co-hosted by Financial News and the Digital Asset eXchange Alliance (DAXA) at the Korea Exchange in Yeouido, Seoul, on the 11th.
Jeon said that institutional investors have been rapidly increasing their participation in the digital asset market, and that virtual assets are no longer a high-risk asset class limited to a small group of investors. He added that global asset managers, including BlackRock, are operating digital asset-related products such as Bitcoin exchange-traded funds (ETFs).
He went on to say that global investment banks such as JPMorgan Chase have introduced Ethereum-based tokenised money market funds (MMFs), creating a structure in which traditional MMF shares can be used as 'on-chain collateral' around the clock. He added that 'on-chain finance,' which processes the entire chain of issuance, distribution and settlement on the blockchain, has moved beyond the experimental stage and is now being applied in some assets and services.
He said the regulatory framework has also begun to take shape. In the United States, bipartisan legislation is under discussion to reorganize the digital asset market structure, while Europe is also working to reduce regulatory uncertainty through institutional reforms.
He also noted that South Korea has established at least a basic regulatory foundation with the implementation of the Act on the Protection of Virtual Asset Users. However, he pointed out that key issues that will determine the market structure, such as allowing corporate investment, reforming the tax system, and enacting the General Act on Digital Assets, are still at the discussion stage.
Jeon said, "Even so, the market is moving first." He added that concrete discussions on digital asset businesses and on-chain payment infrastructure are continuing, led by major players such as Hana Financial Group, Dunamu Inc., the operator of Upbit, and big tech companies including NAVER.
He said this convergence of traditional finance and the digital economy will, after the General Act on Digital Assets is enacted, become the basis for the emergence of the Korean won stablecoin and the on-chain payment market. He added that the key issue in this process is how traditional financial institutions will incorporate digital assets, a new asset class, into their portfolios and businesses, and that this is not a choice but a survival strategy that will determine mid- to long-term competitiveness.
[Special Reporting Team] Team Leader Kim Mi-hee, Senior Reporter Kim Kyung-ah, Deputy Managing Editor Choi Doo-seon, Han Young-jun, Bae Han-geul, Im Sang-hyeok, and reporters Park Ji-yeon and Seo Dong-il
kakim@fnnews.com Kim Kyung-ah Reporter