South Korea to Propose Stablecoin Consolidation Bill
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South Korea’s Financial Services Commission said on July 29 it will propose a consolidated digital asset bill to cover stablecoins, exchanges and user safeguards, working with the ruling party though timing and final structure remain unconfirmed. Lawmakers still must resolve key issues like issuer ownership and exchange equity limits, and Seoul currently lags active regimes in the US, EU, Hong Kong and Abu Dhabi, leaving regulatory clarity and the impact on crypto, CEXs, DEXs, DeFi adoption and token launches uncertain.
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- South Korea plans one bill covering stablecoins, exchanges, and user safeguards.
- Lawmakers still need to settle issuer ownership and exchange equity limits.
- South Korea trails active regimes across the US, EU, Hong Kong, and Abu Dhabi.
South Korea’s Financial Services Commission plans to propose a consolidated digital asset bill covering stablecoins and wider market rules.
FSC Chairman Lee Eog-weon presented the plan during a National Assembly Political Affairs Committee meeting on July 29. The hearing marked the regulator’s first business report after lawmakers formed the committee’s new second-half membership.
According to the advance report, the FSC will work with the ruling party on one government-backed legislative proposal. However, officials have not confirmed the submission date or final structure.
The legislation will form the second phase of …
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