South Korea is accelerating the completion of cryptocurrency legislation to keep pace with global trends and better protect users.
Recognizing the important role of cryptocurrencies, the South Korean government aims to build a transparent legal framework, including stablecoins linked to the won, thereby opening up new business opportunities and promoting modern digital payments.
MAIN CONTENT
South Korea quickly introduced cryptocurrency laws following the United States to protect users and develop the digital economy.
Developing a won-backed stablecoin to improve payments and financial transactions.
The demand for cryptocurrency investment has surged, reflecting the growing influence of digital assets in South Korea.
Why does South Korea need to expedite cryptocurrency legislation?
The head of the Democratic Party's Legal Affairs Committee emphasized the need for quick and clear lawmaking to protect users and facilitate business development in the cryptocurrency sector. This is an essential step to keep up with major economies like the United States, which has just enacted the GENIUS Act, stipulating transparency regarding cryptocurrencies.
South Korean lawmakers do not accept delays, demanding legislation to clarify the rights and responsibilities of exchanges, regulations on stablecoins, and more effective measures to prevent fraud.
Accelerating the process of finalizing cryptocurrency laws shows South Korea's vision to not only keep up but also lead in the global digital financial revolution.
Mr. Kim Yong, Vice Chairman of the Education and Culture Committee of the Democratic Party, 2025
What are the details of the won-backed stablecoin that South Korea is developing?
Korea Investment and Securities is pioneering the development of a new generation of stablecoins backed 1:1 by the South Korean won, aimed at providing stability and liquidity for use in daily payments and complex financial transactions.
Won-backed stablecoins help reduce price volatility, increase transaction speed, thereby promoting digital payments and new financial services. Many experts predict that this national stablecoin will change how people apply cryptocurrencies in their lives.
What is the demand and interest of the South Korean public in cryptocurrencies?
According to a 2025 survey, over 25% of people aged 20-50 in South Korea own cryptocurrency assets, with about 70% expected to increase their investments. This shows that cryptocurrency is becoming an important part of people's accumulation and retirement plans.
The strong investment trend in cryptocurrencies also reflects a significant shift towards digital finance, creating immense pressure on authorities to innovate management policies accordingly.
Frequently Asked Questions
How long will it take South Korea to finalize cryptocurrency laws?
The government aims to shorten the drafting period, with plans to enact new laws within 12 months to quickly adapt to global trends.
How does a won-backed stablecoin benefit users?
Won-backed stablecoins minimize price volatility, improving speed and stability in payments, making transactions safer and more convenient.
Does the new law protect individual investors?
The law will clearly define the responsibilities of exchanges, measures to prevent fraud, and protect the interests of individual investors.
What role does cryptocurrency play in the finances of South Koreans?
Cryptocurrencies are increasingly viewed as a means of accumulation and investment, contributing to the diversification of people's asset portfolios.
How does South Korea's cryptocurrency law compare to that of the United States?
The United States is ahead with the GENIUS Act, creating a legal standard; South Korea excels in agility and focuses on user protection and the development of domestic stablecoins.
Source: https://tintucbitcoin.com/han-quoc-day-nhanh-luat-bitcoin-moi/
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