TL;DR
- South Korea outlines a 2026 regulatory roadmap including Bitcoin spot ETFs.
- New stablecoin rules demand full reserve backing and strict capital requirements.
- Public finance will trial blockchain for treasury management and payments.
South Korea opens a clearer phase for crypto assets. The government considers authorizing Bitcoin spot ETFs during 2026 and, in parallel, sets a regulatory calendar for stablecoins, payments, and blockchain use in public finance. The roadmap appears in the 2026 Growth Strategy, presented on January 5, with the Financial Services Commission (FSC) as lead agency.
The FSC advances a second bill for digital assets with emphasis on stablecoins. The draft sets issuer capital requirements, 100% reserve backing, and enforceable redemption rules. Supervisors also target disclosures, segregation of funds, and clear conduct standards for marketing and distribution.
Stablecoins, cross-border flows, and public payments
The FSC and the Ministry of Strategy and Finance coordinate rules for cross-border transfers using stablecoins. Authorities define authorization for issuers, reserve management with verified assets, and monitoring of flows between jurisdictions. Banks, payment gateways, and wallet providers must align controls with anti-fraud and consumer-protection objectives.
Public finance adopts blockchain for treasury funds, payments, and electronic wallets. The long-term plan allocates up to one quarter of the national treasury to deposit tokens by 2030, subject to pilot results and legal updates. Agencies run controlled trials, measure reconciliation quality, and publish implementation playbooks for state entities.
Policymakers show more openness to Bitcoin spot ETFs after observing adoption in the United States and Hong Kong. The national plan includes permission for spot asset ETFs in 2026, with the FSC responsible for authorization. Earlier criteria excluded Bitcoin as an eligible underlying; the updated stance now recognizes investor demand and custody standards.
Teams prepare amendments to the Bank of Korea Act and the National Treasury Management Act to support blockchain-based payments, digital custody, and accounting treatment for tokenized instruments. The calendar includes pilot assessments and supervisory guidance before market launch.
Operating in South Korea requires full authorization, not transitional registrations. Stablecoin issuers, intermediaries, payment processors, and brokerages need to meet local rules on capital, reserves, audits, and disclosures. For asset managers, potential approval of Bitcoin spot ETFs offers a regulated channel with domestic pricing and recognized custodians.
