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South Korea Advances Phase 2 Digital Asset Act Targeting Stablecoins
12/03/2025, 03:06
AI SUMMARY
●South Korea advances Phase 2 of Digital Asset Basic Act
●Legislation focuses on strict regulation of stablecoin issuers
●Issuance to be limited to high-reliability consortiums
The South Korean government and National Assembly are moving forward with the second phase of the "Digital Asset Basic Act." A primary focus of this new legislation is the regulation of stablecoin issuers to ensure financial stability.
According to reports, the proposed rules aim to limit stablecoin issuance to consortiums that meet specific reliability and resilience criteria. These issuers would be required to maintain at least 51% ownership or control within compliant structures.