South Korea's ruling party plans to pass the "Digital Asset Basic Law" in January next year.
TL;DR
South Korea's ruling party aims to pass the 'Digital Asset Basic Law' by January 2026, establishing a Korean-style stablecoin with banks holding majority shares. Lawmakers have set a December 10 deadline for the government proposal, threatening to submit an independent version if delayed.
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According to Foresight News , citing Cryptopolitan, South Korean lawmakers plan to fully pass the "Digital Asset Basic Law" by January 2026. This bill would establish a "Korean-style stablecoin" with a consortium structure, where banks would hold at least 51% of the shares, and technology companies could participate as minority shareholders. Democratic Party representative Kang Jun-hyeon set the deadline for submitting the government proposal to December 10th. The lawmaker warned that if the Ministry of Finance fails to complete the proposal on time, lawmakers will submit an independent version.