South Korea Pushes for Stablecoin Legalization: Key Provisions of the ‘Basic Digital Assets Act’ Unveiled

A bold regulatory shift has swept through South Korea, as President Lee Jae-myung swiftly introduced his comprehensive crypto reform plan. In June 2025, he launched a series of actions aimed at shaping the nation’s cryptocurrency landscape. His ‘Basic Digital Assets Act’ proposes allowing local companies to issue KRW-based stablecoins and has generated significant reactions within both national and international markets. This article delves into the details of this act, analyzing its impact on the Korean crypto market and the potential challenges it poses.