South Korea Hosts First Stablecoin Law Forum, Aims to Pass the Digital Asset Basic Act by Year-End

KuCoinFlash

Release Time:

Summary

South Korea launched its first stablecoin regulation forum on July 21, 2026, led by Deputy Prime Minister Ku Yun-jeong. The meeting reviewed progress on digital asset regulation and stablecoin regulation under the Digital Asset Basic Act. The government and ruling party plan to finalize the bill by year-end to establish a legal framework for stablecoin issuance and oversight. Topics included AI agent payments, KRW-stablecoins, and AML rules. A unified bill is expected in September, with finalization targeted before the end of 2026.

BlockBeats report: On July 21, according to Korean media, the South Korean government will host its first government-led forum on stablecoin regulation today, chaired by Deputy Prime Minister for Economic Affairs Ku Jun-chul, focusing on the legislation of the Digital Assets Basic Act and the establishment of a stablecoin framework. As the U.S. GENIUS Act is set to take effect in January 2027, the South Korean government and ruling party are pushing to complete legislation of the Digital Assets Basic Act this year to establish a legal framework for the issuance, circulation, and regulation of stablecoins.

The Financial Services Commission, the ruling party, and industry stakeholders will participate in discussions on topics including AI Agent payments, the Korean won stablecoin, and anti-money laundering (AML) regulation. The ruling party previously stated its plan to introduce a unified bill in September and aims to complete legislation this year.

Source:Show original

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.