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South Korea Proposes New Crypto Bill with Stablecoin Licensing Rules
South Korea Proposes New Crypto Bill with Stablecoin Licensing Rules
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South Korean lawmaker Min Byeong-deok has introduced the Digital Asset Basic Act, a legislative proposal targeting stricter oversight of the cryptocurrency sector. The bill establishes a licensing framework for stablecoin issuers, requiring minimum capital reserves of 500 million won ($367,890) as a safeguard against market instability.
The ruling Democratic Party frames this as a strategic MOVE to cement South Korea's position in the digital asset economy. By implementing clear regulatory guardrails, policymakers aim to attract institutional participation while mitigating systemic risks associated with stablecoins.
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