South Korea, under the leadership of President Lee Jae-myung, is moving closer to legalizing stablecoins pegged to the won through the "Basic Digital Asset Act" bill. With stablecoin trading volume reaching 42 billion USD in Q1/2025 (according to the Bank of Korea), this bill aims to control capital flows and promote the domestic blockchain ecosystem.

The bill, announced by Congressman Min Byeong-deok on June 10, 2025, requires stablecoin issuers to have a minimum capital of 368,000 USD and be approved by the Financial Services Commission. Additionally, it establishes a Digital Asset Committee under the President to support blockchain development and prevent fraud. Despite facing opposition from the Central Bank, the bill reflects global trends, similar to regulations in the U.S. and Hong Kong, reinforcing the role of stablecoins in digital finance.

Risk warning: Investing in cryptocurrency carries high risks due to significant price volatility. #Korea #stablecoin #anhbacong