South Korea has established itself as a cryptocurrency regulatory leader through its newly implemented Digital Asset Basic Act, introducing rigorous stablecoin oversight that contrasts with stalled U.S. efforts. The legislation mandates stablecoin issuers to maintain minimum equity capital of 500 million won and secure Financial Services Commission approval, requiring full reserves to guarantee redemption capabilities.
In a move to strengthen financial sovereignty, South Korea is actively promoting stablecoins pegged to the Korean won to reduce dependence on foreign digital currencies. Concurrently, the government is evaluating potential Bitcoin allocations within national pension funds, signaling growing institutional acceptance of digital assets.
The regulatory framework includes revised anti-money laundering laws designed to attract foreign digital asset firms and enhance global competitiveness. This proactive approach starkly contrasts with regulatory delays in the United States, where the GENIUS Act remains stalled in Congress.