South Korea’s top financial regulator will speed up discussions on crypto-related legislation and aims to introduce the country’s version of the Digital Asset Basic Act this fall, according to The Block. Based on the information disclosed so far, the bill is expected to set rules for stablecoin issuance, licensing for virtual asset service providers, or VASPs, and Bitcoin exchange-traded funds, or ETFs. The update points to a faster policy timetable as regulators move to formalize key parts of the country’s digital asset framework. No additional details on the draft text or implementation schedule were provided in the report cited.
South Korea’s top financial regulator said it will accelerate discussions on crypto-related legislation and plans to introduce the country’s version of the Digital Asset Basic Act this fall, according to The Block.
The bill is expected to set rules covering stablecoin issuance, licensing for virtual asset service providers, or VASPs, and Bitcoin ETFs, based on the information disclosed so far.
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