South Korea Report Urges Stablecoin Rules Before Digital Asset Law

TLDR

• South Korea may introduce stablecoin rules before completing its Digital Asset Basic Act.
• The FSC plans to merge about 10 crypto and stablecoin bills into one framework.
• The Digital Asset Basic Act is expected to cover issuance, disclosures, and market rules.
• Lawmakers are considering a bank-led model for Korean won-backed stablecoins.
• South Korea plans a 2027 tokenized bond pilot with the Bank of Korea’s wholesale CBDC.

South Korea should introduce stablecoin rules before completing its wider Digital Asset Basic Act, a new policy report said, as regulators work to merge several crypto bills into one framework.

The report was published by Hashed Open Research and the Solana Policy Institute. It summarized a June 23 symposium attended by lawmakers, legal experts, and industry participants.

Report Calls for Interim Stablecoin Guidance

The report said South Korea should give stablecoin issuers more flexibility while lawmakers complete the country’s first broad digital asset law. It also called for interim licensing guidance to reduce uncertainty for firms building payment and settlement products.

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