South Korea Unveils Stablecoin Regulatory Framework

South Korea’s ruling party has proposed a landmark piece of legislation that will allow for the issuance of stablecoins within the nation. The Digital Asset Basic Act aims to provide clarity and structure to the burgeoning digital asset ecosystem in South Korea, while also enabling the growth of these innovative financial tools. Specifically, the bill outlines a framework for companies with assets exceeding $368,000 to create their own stablecoin offerings.