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South Korea’s Democratic Party sets up ‘Digital Asset Committee’

South Korea’s Democratic Party formed the Digital Asset Committee on May 13, 2025, holding its first meeting in Seoul to address cryptocurrency issues.
The committee’s creation follows growing market challenges and political focus on digital assets ahead of June’s presidential election, with discussions on stablecoin regulation intensifying.
The committee, chaired by National Assembly Speaker Min Byeong-deok, includes lawmakers and industry representatives from major exchanges and aims to improve regulation, consumer protection, and market transparency.
Chairman Min criticized the 'one exchange, one bank' rule as inadequate, while Bank of Korea’s Koh Kyung-chul warned stablecoins raise concerns about monetary policy and financial stability.
The committee’s work signals increased policy engagement with digital assets in Korea, aiming to balance innovation with regulation amid a volatile market and an approaching election.

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연합뉴스-Yonhap News Agency

Lean Right

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17 hours ago

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