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South Korea’s Ruling Party Unveils Plan to Allow Stablecoins
- On June 10, 2025, South Korea’s ruling Democratic Party submitted legislation to legalize won-backed stablecoins and establish a presidential committee to oversee digital asset policies.
- The bill responds to the 2022 Terra-LUNA crash and aims to address the rapidly growing digital asset market valued at about 3,300 trillion won.
- It requires issuers to hold at least 500 million won in capital reserves, back stablecoins with fiat held in Korean banks, and conduct daily reserve proofs and monthly stress tests.
- In the first quarter of 2025, stablecoin trading on South Korea's top exchanges surpassed 57 trillion won . However, Representative Min Byeong-dug highlighted that, unlike leading markets such as the U.S., EU, and Japan, South Korea has yet to establish a cohesive and comprehensive regulatory framework for digital assets.
- The legislation aims to enhance transparency, protect consumers with insurance funds, reduce foreign stablecoin dependence, and position South Korea as a global digital asset leader.
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South Korea's President Proposes Stablecoin Issuance Bill - Blockchain & Cryptocurrencies Tabloid
South Korea's President Lee Jae-myung pushes stablecoin bill to regulate crypto market. The post South Korea’s President Proposes Stablecoin Issuance Bill appeared first on Blockchain & Cryptocurrencies Tabloid.
South Korea Proposes Stablecoin Licensing Law As Lee Administration Advances Crypto Agenda
The Financial Services Commission of South Korea has proposed a new law to license stablecoin issuers and broad crypto oversight. Digital Asset Basic Act requires local stablecoin issuers to own at least ₩500 million and obtain regulatory permission. The new committee and industry body will coordinate the policy and monitoring of tokens. The Democratic Party of South Korea has proposed a comprehensive bill that would establish a stablecoin licen…
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