South Korea Considers Stablecoin Issuance Rules Before Comprehensive Crypto Law

A recent policy report in South Korea suggests that the country should allow stablecoin issuers greater flexibility and provide interim licensing guidance before completing its Digital Asset Basic Act.

The report, published by Hashed Open Research and the Solana Policy Institute, summarizes a June 23 symposium attended by lawmakers, legal experts, and industry participants. Lawmakers have yet to reconcile multiple bills, with disagreements over stablecoin issuance delaying the legislation.

Democratic Party lawmaker Ahn Dogeol said policymakers were considering a compromise under which banks would retain majority ownership while fintech and non-bank firms managed operations.