South Korea's Democratic Party Plans Digital Asset Basic Act by September

South Korea's Democratic Party said it will restart its digital asset task force after completing internal leadership changes and plans to introduce a Digital Asset Basic Act in September, with the goal of passing legislation this year. According to ChainCatcher, lawmaker Park Min-kyu said the bill's content and submission timing will be coordinated by the National Assembly, the presidential office, and relevant ministries, with discussions potentially beginning in early September. The party also said rules for stablecoin issuers should be defined alongside broader measures on market structure, security, and regulation to build a localized digital asset framework that fits South Korea's financial regulatory environment. Lawmaker Min Byung-deok separately suggested using a won-backed stablecoin as a payment and settlement tool to support the overseas expansion of South Korean culture, business, tourism, and manufacturing.