"Monetary Sovereignty and Digital Assets Highlighted at 'Pizza Day' Event by Min Byung-deok"

# South Korean Lawmaker Unveils Digital Asset Strategy at Bitcoin Pizza Day Event Min Byung-deok, a member of South Korea’s Democratic Party, took part in the Bitcoin Pizza Day event at the Bithumb Sharing Center in Gangnam, Seoul, on the 23rd. He elaborated on policies for digital assets during the event, which was hosted by Blockmedia in an open-discussion format featuring experts, students, and citizens. Bitcoin Pizza Day marks the 2010 first recorded purchase of two pizzas with Bitcoin (BTC). Key figures at the event included Min Byung-deok, Chairman of the Digital Asset Committee; Kim Jung-woo, Vice Chairman of the Committee; Kang Hyung-gu, Chairman of the Industrial Innovation Growth Committee and professor at Hanyang University; and Yoon Min-seop, Chair of the Policy and Institutional Support Committee. Under the theme “2030 and Digital Asset Open Talk,” they interacted with industry professionals, academics, and the audience. # Converging Policy with Industry Min Byung-deok highlighted the symbolic value of Pizza Day, saying, “Pizza Day has drawn significant public interest. It resonates with those deeply involved in cryptocurrencies.” Jo Jae-woo, a professor at Hansung University, acknowledged the event’s unique importance, stating, “This is the first time a South Korean politician has mentioned Pizza Day, adding more significance to today’s event.” Topics discussed ranged from the potential of the tokenized securities market (STO) to the necessity of a Korean won-based stablecoin. A university student questioned the future of STOs, sharing their investment in STO-related stocks. Professor Jo noted, “Regulatory challenges still hinder this sector,” but praised the student’s method, adding, “Systematic investments remain sound.” Kang Hyung-gu commented, “Global asset management firms are especially focused on STOs, with a strong emphasis on bonds.” # The Need for Stablecoins Suh Young-seok, an attendee, addressed the need for a Korean won-based stablecoin to counter potential tax revenue shortfalls, emphasizing its policy benefits. Min endorsed the idea, saying, “A leading candidate plans to pursue this, increasing its likelihood. The U.S. is also maintaining demand for the dollar and U.S. Treasuries through stablecoins. Korea should similarly develop a Korean won-based stablecoin to enhance practical usability and utility.” Rejecting the notion that U.S. stablecoins are sufficient, Min stated, “Relying on U.S. stablecoins is akin to surrendering our monetary sovereignty in the digital realm. A Korean won stablecoin is not just a technological tool but a strategic asset for maintaining currency sovereignty.” He stressed the importance of sustaining Korea's digital and economic independence. # Digital Asset Basic Act: Fostering Industry Growth Min introduced the Digital Asset Basic Act, which he has been working on, emphasizing that it’s not meant to stifle the market but to support growth. “The law will serve as a guardrail for the digital asset industry,” he said. He also advocated for a Presidential Committee on Digital Assets to balance the financial regulators' authority, aiming to create foundational plans for industry growth. Industry leaders responded positively to the proposed legislation. Lee Jang-woo, CEO of UpRoot Company, said, “This legislation echoes the perspectives of field professionals. It will underpin the healthy development of the digital asset industry within a regulated economic framework.” # Celebrating Bitcoin’s 15 Years Bitcoin Pizza Day 2023 celebrated Bitcoin's 15th anniversary with remarkable milestones: Bitcoin (BTC) surged past $110,000, with its market capitalization exceeding Amazon's, hitting $2.135 trillion. As South Korea charts its course in the global digital asset arena, the advocacy and legislative efforts highlighted at this event underscore the country’s ambitions to be a progressive player in the evolving digital economy.