The South Korean government has initiated legislative discussions on the Digital Asset Basic Law (Phase II), with a focus on regulating stablecoins

According to Edaily, the South Korean government held a forum today chaired by Vice Premier of Economy and Minister of Planning and Finance Choi Sang mu, officially launching legislative discussions on the "Digital Asset Basic Law (Phase II)", with a focus on regulating stablecoins. The South Korean government and the Democratic Party plan to push for the passage of the bill within this year. In the 2026 economic growth strategy announced by the authorities on July 14th, they plan to promote the legislation of the Digital Asset Basic Law in the second half of the year, segment the digital asset industry, establish a regulatory framework for business behavior, and lay a legal foundation for the standardization of stablecoin regulation.