Amid growing capital flight, South Korea’s ruling party forms a task force to legislate on stablecoins and cryptocurrencies, aiming for passage by year-end.
South Korea’s ruling Democratic Party has formed a digital assets task force to draft legislation for stablecoins and cryptocurrencies. The group aims to pass the digital asset law during the 2025 regular session and year-end National Assembly meeting. This move comes after $40.6 billion in digital assets were transferred abroad in Q1 2025, with stablecoins accounting for half of the amount.