PANews reported on August 26th that according to Digital Today, South Korea's Financial Services Commission Chairman Kim Byung-hwan stated that the plan is to complete the preparations for the second phase of the virtual asset-related bill (i.e., the "Basic Law") before the regular National Assembly in September. In response to a question from Democratic Party member Min Byung-deok about the bill's submission plan at the Second Political Affairs Committee of the National Assembly, Chairman Kim stated, "We will make preparations to ensure that the bill can be discussed during the regular National Assembly."