South Korea Crypto Regulation Delayed as Stablecoin Talks Drag
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South Korea's Basic Digital Asset Act faces delays due to disputes over stablecoin regulation. The proposed bill includes strict liability and full reserve backing for stablecoins while allowing domestic token sales. Ongoing controversies in the crypto exchange sector are increasing political pressure related to these regulations.
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- Digital asset law delayed as stablecoin rules spark disputes between regulators and central bank.
- The proposed bill adds strict liability, full reserve backing, and allows domestic token sales.
- Upbit–Bithumb controversy fuels political pressure amid ongoing crypto regulation talks.
South Korea’s digital asset regulatory agenda is entering a period of uncertainty, as the government’s proposed Basic Digital Asset Act faces delays due to unresolved disagreements over stablecoin oversight and broader market rules. At the same time, political controversy involving allegations of preferential treatment within the country’s crypto exchange sector is intensifying scrutiny of both regulators and lawmakers.
According to the financial sector and the National Assembly, the government is still reviewing the Phase 2 Virtual Asset Bill, formally known as the Basic Digital…
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