South Korea FSC Unveils Unified Crypto Bill with Stablecoin Rules

South Korea's Financial Services Commission (FSC) is accelerating crypto regulation by proposing a unified bill for its Framework Act on Digital Assets. The proposal will be presented to the National Assembly's Political Affairs Committee on Tuesday as the regulator aims to complete the legislation before the end of 2026.

The FSC's goal is to build a digital asset ecosystem that balances innovation with financial stability, according to Yoo Young-jun, Director General of Digital Finance Policy at the FSC. The proposal combines several bills currently pending in the National Assembly and includes rules for stablecoin issuance and distribution.

South Korea's crypto market has been largely restricted since 2017, but the FSC is reviewing guidelines to expand corporate participation. If approved, these changes could ease restrictions that have prevented financial institutions from participating in the country's crypto market.