South Korea has not finalized a National Assembly public hearing for the Digital Asset Basic Act, with a delayed government draft and an audit beginning Oct. 6 potentially pushing debate to November or later. However, Democratic Party policy committee senior vice chair Min Byoung-dug said at Solana Summit Korea in Seoul that most stablecoin-related provisions in the second-phase legislation are expected to be completed this year. The bill would address digital-asset issuance and distribution, service-provider operations and market oversight while balancing innovation, financial stability and user protection. Key issues include eligibility to issue won-denominated stablecoins, their management and potential ownership caps for major exchange shareholders. Separately, virtual-asset income taxation is scheduled to begin in January 2027.