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

Odaily Planet Daily News: The South Korean government will hold a forum today chaired by Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, to officially launch legislative discussions on the "Digital Asset Basic Act (Phase Two)," with a key focus on stablecoin regulation. This forum is the first stablecoin legislative forum hosted and organized by the government. The South Korean government and the ruling Democratic Party of Korea plan to push for the passage of this bill within this year. In the 2026 economic growth strategy announced on July 14, the authorities stated their plan to advance the legislation of the "Digital Asset Basic Act" in the second half of the year, to subdivide the digital asset industry, establish a business conduct regulatory framework, and lay the legal foundation for the standardization of stablecoin regulation.