The South Korean government today launched legislative discussions on the "Digital Asset Basic Act," with a primary focus on stablecoin regulation

Odaily News: The South Korean government will hold a forum today chaired by Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, officially initiating legislative discussions on the "Digital Asset Basic Act (Phase Two)," with a primary focus on stablecoin regulation. This forum marks the first stablecoin legislative forum hosted and organized by the government. Both the South Korean government and the ruling Democratic Party aim to push the bill through within this year. In the 2026 economic growth strategy published on July 14, authorities stated plans to advance legislation for the "Digital Asset Basic Act" in the second half of the year, segment the digital asset industry, establish a business conduct regulatory framework, and lay the legal groundwork for standardizing stablecoin regulation.