South Korea Launches Digital Asset Basic Act Legislative Discussion on Stablecoin Regulation

South Korea will hold a forum chaired by Economic Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok to formally begin legislative discussions on the Digital Asset Basic Act, Phase Two, with a focus on stablecoin regulation. According to Odaily, it is the first stablecoin legislation forum hosted and organized by the government. The South Korean government and the ruling Democratic Party plan to push the bill through this year. In its 2026 economic growth strategy released on July 14, the authorities said they plan to advance legislation on the Digital Asset Basic Act in the second half of the year, divide the digital asset industry into sectors, establish a regulatory framework for business conduct, and lay a legal foundation for standardizing stablecoin regulation.