Regulation · Regime · South Korea · Primary legislation · Financial Services Commission (Korea)
Korea Digital Asset Basic Act (bill, including won stablecoin issuance)New
A proposed South Korean framework law that would define digital assets, let won-denominated stablecoins be issued with prior authorisation, and set market entry and conduct rules. Several bills have been filed in the National Assembly since June 2025; as of October 2026 none had passed, and who may issue won stablecoins (bank-majority consortia or tech-led issuers) was still disputed.
Proposed
Key points
- Rep. Min Byeong-deok's bill (June 2025) would allow won stablecoins subject to prior authorisation, with the Financial Services Commission handling authorisation, registration and reporting and a minimum equity capital of KRW 500m for issuers.[1]
- The bill would also set up a presidential Digital Asset Committee and an industry self-regulatory association, and make unfair trading punishable.[1]
- In August 2026 ruling-party lawmakers said they aimed to pass the law in the second half of 2026; the issuer structure and supervision were still under debate.[2]
What it covers
StablecoinPaymentsPrimary issuance
Timeline
- 10 Jun 2025 · ProposedMin Byeong-deok files the Digital Asset Basic Act bill.[1]
- H2 2026 · Final · upcomingRuling party's target for passing the law.[2]
Deployments operating under it
None recorded with a source yet.
Sources
- [1]與민병덕, '원화 스테이블코인 발행 허용' 디지털자산기본법 발의 — Seoul Economic Daily, 10 Jun 2025. Accessed 14 Oct 2026. In Korean; our summary is translated.C
- [2]與 "스테이블코인 시장 주도권 잡아야"…하반기 기본법 통과 추진 — ZDNet Korea, 21 Aug 2026. Accessed 14 Oct 2026. In Korean; our summary is translated.C