South Korea set January 2026 as the deadline to pass the Digital Asset Basic Act, a law that will establish a stablecoin model issued by consortia where banks hold at least 51% of the capital and technology companies participate as minority partners. The framework aims to protect monetary stability while promoting innovation in crypto infrastructure.
The National Assembly set December 10 as the deadline to receive the government’s official proposal. If the financial regulator fails to submit the draft on time, lawmakers will move forward with an independent bill. Negotiations focus on coordinating positions between the Bank of Korea, the FSC, and the banking sector to unify issuance criteria, reserve requirements, and operational limits.
The government also expanded the travel rule to cover all transfers, removing the under-1 million won exception that previously enabled payment splitting. The measure aims to strengthen the anti-money laundering framework, tighten requirements for local providers, and allow blocking high-risk offshore exchanges. Authorities argue that a stablecoin system operated by banks requires stricter supervision standards and permanent regulatory coordination channels.
Source: https://www.mk.co.kr/en/stock/11481195
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