South Korea Introduces Landmark Legislation for Crypto Market Regulation

South Korea is taking significant steps forward in regulating its burgeoning cryptocurrency market. The nation’s 13th-largest economy has unveiled a groundbreaking bill known as the ‘Digital Asset Basic Act’, aiming to reduce market uncertainty and protect investor interests. This initiative, spearheaded by the ruling Democratic Party under President Lee Jae-myung, seeks to establish clear rules for the sector, particularly with regards to stablecoins.