South Korea is poised for a significant shift in its approach to digital assets with the introduction of a comprehensive regulation plan. Led by the ruling party, this initiative aims to establish a more robust and secure crypto market while fostering innovation. Key elements of the new legislation include stringent requirements for stablecoin issuers, mandating a minimum capital reserve of ₩500 million and compliance with licensing protocols under the Financial Services Commission. This move builds upon existing regulations, such as the Virtual Asset Investor Protection Act, to create a more robust regulatory framework. 📈 The plan seeks to draw inspiration from global best practices in stablecoin regulation, including those implemented by organizations like the U.S., EU, Japan, and Hong Kong. Expert opinions suggest this legislation will position South Korea at the forefront of digital asset regulation globally, leading the way in transparency and stability while potentially creating a more level playing field for local businesses and investors. 🌍