South Korean lawmakers are on track to enact a comprehensive digital asset framework known as the Basic Law on Digital Assets by January 2026. This legislation will introduce a novel ‘Korean-style stablecoin’ featuring a consortium structure where banks hold at least 51% of equity, enabling technology companies to join as minority shareholders. The bill has been assigned an ambitious deadline: December 10th for the government’s submission proposal. Rep. Kang Jun-hyeon, representing the Democratic Party, highlighted the importance of this deadline and cautioned that if the financial department fails to meet it, they will propose an independent version of the bill.