South Korea will hold its first government-led forum on stablecoin legislation on July 21, according to local media. The event will be chaired by Deputy Prime Minister Koo Yun-cheol and will focus on the proposed Digital Asset Basic Act and the broader framework for stablecoin rules. The government and the ruling party are pushing to complete legislation within the year as they prepare legal standards for the issuance, circulation and supervision of stablecoins. Participants will include the Financial Services Commission, the ruling party and industry representatives. Agenda items include AI agent payments, a won-denominated stablecoin and anti-money laundering, or AML, oversight. The ruling party had previously said it plans to submit a unified bill in September and is aiming to finish the legislative process before year-end.
South Korea will hold its first government-led forum dedicated to stablecoin legislation on July 21, according to local media. The session will be chaired by Deputy Prime Minister Koo Yun-cheol and will center on the proposed Digital Asset Basic Act and the design of a stablecoin regulatory framework.
With the United States' GENIUS Act set to take effect in January 2027, South Korea's government and ruling party are pushing to pass the Digital Asset Basic Act within this year. The bill is intended to establish a legal framework covering the issuance, circulation and regulation of stablecoins.
Topics on the agenda
The Financial Services Commission, the ruling party and industry participants are all expected to join the discussion. Topics include AI agent payments, a won-backed stablecoin and anti-money laundering, or AML, oversight.
The ruling party previously said it plans to put forward a unified bill in September and is seeking to complete legislation before the end of the year.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
