South Korea’s Democratic Party advances Digital Asset Basic Act to regulate crypto

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South Korea’s Democratic Party has formally proposed the Digital Asset Basic Act, introducing a stablecoin licensing regime and expanded oversight under President Lee Jae-myung’s administration. During a June 10 press conference , lawmaker Min Byeong-deok announced the bill’s submission, calling it a foundational step toward comprehensive regulation of digital assets, including stablecoins, cryptocurrencies, and related service providers. Min said the legislation was designed to enhance transpar...