The Digital Asset Basic Act aims to enhance regulatory oversight for stablecoin issuance, reflecting President Lee Jae-myung's commitment to supporting the country's crypto industry.
South Korea’s Democratic Party submitted the Digital Asset Basic Act to parliament, allowing companies to issue stablecoins with a minimum capital of ₩500 million ($368,000) and Financial Services Commission approval. This initiative aligns with President Lee Jae-myung’s pro-crypto agenda, aimed at improving transparency and encouraging competition in the digital asset market.