South Korea’s ruling party proposes a “Digital Asset Basic Act,” aiming to establish a comprehensive regulatory framework and strengthen stablecoin regulation

Gate News message: On April 9, according to CoinDesk, South Korea’s ruling party proposed a “Digital Asset Basic Act,” aiming to establish a comprehensive legal framework covering issuance, trading, custody, and regulation. The bill would classify digital assets such as stablecoins that are linked to fiat currency or real-world assets as a special category, requiring issuers to obtain licenses and meet requirements related to capital, reserves, and redemption. At the same time, the bill plans to introduce licensing and information disclosure systems, clearly prohibit market manipulation and insider trading, and intends to set up a Digital Assets Commission to coordinate regulatory oversight.