Ahn Do-geol urges South Korea to advance won stablecoin legislation

  • Ahn Do-geol urged South Korea to institutionalize a won-denominated stablecoin.
  • 30% replacement of card payments could cut annual merchant fees by 5.2 trillion won.
  • Ahn proposed a stablecoin bill in July 2025 and will pursue follow-up legislation.

Ahn Do-geol, a lawmaker from the Democratic Party of Korea, is urging South Korea to institutionalize a won-denominated stablecoin as next-generation payment infrastructure for tokenized assets and AI agents. In a Sept. 15 interview with Bloomingbit, Ahn said early adoption was important because overseas dollar-based stablecoins could otherwise dominate the market, potentially weakening monetary policy effectiveness and contributing to an outflow of national wealth. He proposed the Act on the Issuance and Distribution of Value-Stable Digital Assets in July 2025 and said related amendments to the Digital Asset Basic Act, the Electronic Financial Transactions Act and the Foreign Exchange Transactions Act would be needed. Ahn cited lower fees, real-time settlement and potential demand from overseas remittances, tourism and K-culture. He said replacing 30% of card payments with stablecoins could reduce annual merchant fees by as much as 5.2 trillion won ($3.8 billion). Further digital-asset discussions are expected through the AI Transformation Finance, Stock Market and Economic System Reform Task Force, established under party leader Kim Min-seok.

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