US EditionSouth Korea's Bold January Deadline For Crypto Regulation
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9 Articles
South Korea Pushes Digital Asset Act, Ruling Party Sets January Deadline
South Korea set January 2026 as the deadline to pass the Digital Asset Basic Act, a law that will establish a stablecoin model issued by consortia where banks hold at least 51% of the capital and technology companies participate as minority partners. The framework aims to protect monetary stability while promoting innovation in crypto infrastructure. The National Assembly set December 10 as the deadline to receive the government’s official propo…
South Korea Pressures Regulators to Deliver Stablecoin Bill Next Week
Key Takeaways: Lawmakers are demanding a stablecoin bill by December 10. Disagreement over whether banks should control issuers is blocking progress. Parliament may advance regulation without financial regulators if delays continue. Lawmakers are no longer willing to wait for financial agencies to settle their internal disagreements – and the clock is ticking. The ruling party has set a firm ultimatum: regulators must hand over a complete draf…
South Korea Nears Digital Asset Act Completion After Breakthrough on Won-Based Stablecoin Rules
South Korea plans to wrap up stablecoin rules in January as lawmakers agree on a bank-led consortium model for issuance. The new act sets clear oversight for digital assets and strengthens rules for foreign stablecoins that dominate local trading. Lawmakers also push security and capital market reforms to improve investor protection and support market transparency. South Korea is moving to finalize a new digital asset act by January after lawmak…
[Digital Daily Reporter Park Ki-rok] The Democratic Party of Korea and the Financial Services Commission (FSC) have agreed to pursue legislation for the "Basic Act on Digital Assets," which would require a consortium in which commercial banks hold at least a 51% stake to issue won-denominated stablecoins. This is seen as a compromise between the Bank of Korea's previously advocated "bank-centered" issuance and the FSC and some in the ruling part…
South Korea moves to tighten stablecoin rules with a bank-led model
The new legislation builds on the Digital Asset Basic Act by adding detailed rules for stablecoin oversight. The framework outlines how global stablecoins like USDT and USDC will be treated in Korea. Officials warn delays could leave Korea behind other regions that tightened rules in 2025. South Korea is taking a major step toward formalising how won-based stablecoins will be issued and supervised, after lawmakers settled a long-running dispute …
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