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The Democratic Party of Korea proposed the "Basic Law on Digital Assets," aiming to establish a comprehensive legal framework for digital asset issuance and related activities.
ME News Report, April 9 (UTC+8), South Korea’s Democratic Party proposed the “Digital Asset Basic Act” draft, aiming to establish a comprehensive legal framework for the issuance, trading, custody, and regulation of digital assets. The bill classifies value-linked digital assets such as fiat-backed or RWA-linked stablecoins as a special category, requiring issuers to obtain authorized licenses and meet strict standards including capital thresholds, reserve plans, and redemption obligations. Additionally, the bill will introduce licensing, registration, and information disclosure systems for digital asset businesses, prohibit market manipulation, insider trading, and other misconduct, and plans to establish a Digital Asset Committee to coordinate policy and regulation. (Source: Foresight News)