Earlier this year, Korean media reported that lawmakers were working on the Digital Asset Basic Act (DABA), which collectively refers to 17 draft bills that largely focus on investor protection. As of now, none of these bills have passed. “We were on the way to make some new crypto legislation, especially after the new presidential administration started. But so far there has been almost no new regulation, only discussions in Parliament,” said Jongbaek Park, a partner at Bae, Kim and Lee.