South Korea to Introduce Stablecoin Rules Before Completing Digital Asset Law
South Korea is considering introducing stablecoin rules before completing its Digital Asset Basic Act. A policy report, published by Hashed Open Research and the Solana Policy Institute, recommends giving stablecoin issuers more flexibility while lawmakers complete the country's first broad digital asset law.
The report suggests that South Korea should provide interim licensing guidance to reduce uncertainty for firms building payment and settlement products.
Lawmakers are currently working on merging several crypto bills into one framework, with the goal of completing legislation on virtual assets as soon as possible. The Digital Asset Basic Act is expected to cover stablecoins, token issuance, disclosures, market rules, and investor protection.
The Financial Services Commission (FSC) plans to combine around 10 digital asset and stablecoin bills into a unified framework before the end of 2026. The merged framework will define digital asset businesses and establish rules for issuance, distribution, disclosures, and market conduct.