🚨 CRYPTO: SOUTH KOREA'S DEMOCRATIC PARTY DRAFTS LAW TO REGULATE RWAs AND STABLECOINS UNDER EXISTING FINANCIAL RULESSouth Korea's ruling Democratic Party proposed the Digital Asset Basic Act, a framework that would bring tokenized real-world assets and stablecoins under existing financial law. RWA tokens must be backed by underlying assets held in managed trusts under the Capital Markets Act. Stablecoins would be treated as a recognized payment method under the Foreign Exchange Transactions Act.Stablecoin is ...

According to Yonhap, Korea's FSS announced its 2026 plan on Feb 9: investigations into high-risk crypto manipulations (whale, containment/ramp schemes, API orders, SNS misinformation) with AI text/surge detection tools; new Digital Asset Basic Act group for phase-2 legislation support, issuance/trading disclosure/licensing manuals, and refined exchange fee management/disclosure. https://t.co/8SqY1Oapi9 ...

📰 #AscendEX Daily Updates🔷South Korea’s ruling party finalizes the "Digital Asset Basic Act".🔷The total market cap of tokenized gold and silver reaches $6 billion.🔷Fidelity to launch stablecoin FIDD on Ethereum.#AscendEX #Crypto #CryptoNews https://t.co/3Hn6mCyCBb ...

Core Viewpoint - South Korea is advancing legislation to regulate stablecoin issuers, requiring a minimum capital of 5 billion won ($3.5 million) to enhance oversight of the virtual asset market [1][2][3] Group 1: Legislative Developments - The Democratic Party's Digital Asset Task Force is actively discussing the provisions of the new bill, aiming to formalize regulations for the crypto market [1][2] - The proposed Digital Asset Basic Act aligns stablecoin regulations with existing electronic money standards, reflecting concerns over market stability [2][3] Group 2: Capital Requirements - Companies intending to issue stablecoins must meet the 5 billion won capital threshold, similar to requirements for electronic money firms [3] - This measure aims to prevent undercapitalized firms from issuing tokens, thereby reducing the risk of market disruptions [3][4] Group 3: Governance and Risk Management - The bill proposes the establishment of a Virtual Asset Committee to oversee market risks, led by the chair of the Financial Services Commission [4][5] - The committee will include key officials from the Bank of Korea and the Ministry of Economy and Finance, focusing on rapid responses to market crises [5] Group 4: Ongoing Discussions - Despite progress, unresolved policy disagreements remain, particularly regarding the Bank of Korea's authority and limits on major shareholder holdings [6]