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Kim Min-seok puts digital asset law and won stablecoins in reform agenda

Kim Min-seok puts digital asset law and won stablecoins in reform agenda

South Korea’s broader capital-markets overhaul now includes FSC outreach on a digital asset basic law, security-token rules, foreign-investor access measures and venture-investment reforms.

Fact Check
Multiple sources including the Korean-language primary report from Digital Asset confirm Kim Min-seok put a Digital Asset Framework Act and won stablecoin institutionalization in his July 22, 2026 reform agenda. Bloomingbit corroborates this is second-phase legislation covering issuance, distribution, and market-entry (institutional participation) rules for stablecoins and tokenized securities. Sedaily confirms the government aims to legislate the phase-2 framework in H2 2026 with stablecoin legalization. The only qualification is that the Korean source notes the basic law, once targeted for within-year enactment, was indefinitely postponed—so 'aiming to complete the framework this year' is the stated goal but timing remains uncertain. The core claim is well supported.
Summary

South Korea’s digital asset and capital-markets agenda is widening beyond won-denominated stablecoins and institutional crypto participation to include active Financial Services Commission outreach to lawmakers on a proposed digital asset basic law, the rollout of a security-token framework, broader measures to attract foreign investors and follow-up reforms for IPOs and venture funding. The FSC’s virtual asset division is scheduled to brief National Assembly staff on the bill and plans broader engagement with members of the Political Affairs Committee, as authorities also work on second-phase digital asset legislation covering stablecoins, issuance, distribution and institutional entry. In parallel, subordinate regulations and guidelines for security tokens are due this month, with tokenized-securities legislation set to take effect in February 2027 after infrastructure is prepared.

Terms & Concepts
  • digital asset basic law: Proposed second-phase South Korean legislation setting rules for digital asset issuance, distribution, stablecoins and market participation.
  • security tokens: Digital representations of investment products or other regulated securities issued and traded under securities laws.
  • omnibus account system: A structure that lets a financial intermediary hold assets for multiple end investors in a single account, easing market access.