Fulfilling a Campaign Promise: South Korea’s New President Pushes for Crypto Reforms

• South Korea plans tighter oversight on token listings through a market surveillance committee.
• New bill permits stablecoin issuance for firms with 500M won equity and reserve backing.
• Stablecoin trading hit 57T won in Q1 2025, reflecting rising adoption in local markets.

South Korea’s government is moving to tighten its regulatory grip on the nation’s booming cryptocurrency market, proposing a new law that would bring crypto exchange token listings under direct government supervision. The draft legislation, known as the Digital Asset Basic Act, was submitted by the ruling Democratic Party of Korea (DPK) on June 10, also introduces a regulation for stablecoin issuance by local companies.

These changes symbolize efforts to increase transparency and control within one of the world’s most active digital-asset markets, which sees daily trading volumes often rivalling those of the country’s traditional stock exchanges.

Related: South Korea Presidential Race: Lee Jae-myung Ahead as Crypto Regulation Becomes Key Issue

New Bill to Supervise Exchange Token Listings

Under the proposed Digital Asset Basic Act, decisions related to the listing and delisting…

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