Korean Financial Services Commission Completes Draft of Digital Asset Framework Act, May Include AI Agent Payments

Odaily Planet Daily News: The Korean Financial Services Commission (FSC) has announced the completion of the draft "Digital Asset Framework Act," with only a few matters remaining to be coordinated. With the agenda for the second half of the year set by the National Assembly of South Korea, the legislative process will be accelerated as much as possible. It is reported that South Korea is considering including legal grounds related to AI Agent payments in the Digital Asset Framework Act to address the future trend of AI becoming a primary entity for small-scale, high-frequency payments. Recommendations include establishing a regulatory framework for AI Agent payments that covers customer identity verification, allocation of payment responsibilities, foreign exchange reporting for cross-border transactions, and programmable payment standards, along with providing legal authorization.