South Korea Proposes Consolidated Stablecoin Bill

South Korea's Financial Services Commission (FSC) plans to propose a consolidated digital asset bill covering stablecoins, exchanges, and user safeguards. The bill is part of South Korea's second phase of its digital asset framework.

The proposed legislation will be divided into three areas: industry provisions, which will define digital asset businesses and establish conduct rules for regulated companies; market operations, which will cover exchange controls and compensation responsibilities; and user provisions, which will require stronger internal controls and information technology systems.

The government aims to complete the Digital Asset Framework Act during 2026. The FSC must still publish the government draft, confirm the stablecoin issuer structure, and settle the proposed exchange ownership rules.