South Korea's National Assembly is progressing rapidly to pass the Digital Asset Framework Act this year, introducing a novel voting rights cap alternative to tackle equity restrictions for major shareholders at crypto exchanges. Committee chairman Yoo Dong-soo aims to table the bill following receipt of the Financial Services Commission's draft next month, with a target enactment within 12 months. The legislation will establish a broad regulatory framework for virtual assets, stablecoins, and service providers. Key proposals include equity caps and alternatives to voting rights limits, alongside separate bills for user asset protection and emergency powers. Stablecoin issuance will be handled via a bank-led consortium model, though industry opposition highlights risks to innovation and capital flows.