South Korea to pass new digital asset law in January 2026

Jakarta, Pintu News – South Korea’s parliament plans to pass a new law on digital assets in January, after the ruling party and opposition reached an agreement on a stablecoin framework that had long stalled negotiations.

Stablecoin Framework Endorsement

Closed-door discussions between lawmakers have led to an agreement on who can issue won-based stablecoins. The consortium model agreed upon allows banks to have a majority stake, but still leaves the door open for tech companies to participate.

This structure is designed to maintain the monetary stability emphasized by the Bank of Korea, while providing room for the private sector to innovate. It also creates the basis for a so-called “Korean-style stablecoin” with clear safeguards regarding reserves and issuance.

Government Targets and Deadlines

Kang Joon-hyun, a senior lawmaker from the Democratic Party, stated that the government must submit its official proposal by December 10. If this deadline is not met, parliament plans to proceed with their own version.

Also read: Sony Bank Ready to Launch Stablecoins in 2026, What’s the Future Potential?

The current target is to pass the draft law during an extraordinary session of the National Assembly in January, after internal coordination with the ruling People’s Party and the president’s office.

Security and Capital Market Reform

In addition, the meeting also discussed separate draft laws on financial security and market transparency. Legislators plan to revise the Electronic Financial Transactions Act following several hacking incidents at major financial companies. Proposed changes include increased penalties and post-incident enforcement.

The government is also working with opposition parties on a series of capital market reforms, which include requiring tender offers in certain corporate situations and updating rules on share allocation to give everyday investors fairer access.

Conclusion

With these new measures, South Korea seeks to fill the last gaps in digital asset regulation, treating digital assets more similarly to traditional financial products, and establishing clearer rules for US-based stablecoins. The move is expected to boost investor confidence and strengthen South Korea’s position as a leader in digital finance innovation on the global stage.

FAQ

What are stablecoins?

Stablecoins are a type of cryptocurrency whose exchange rate is linked to a stable asset such as fiat currency or gold to reduce volatility.

Who will issue won-based stablecoins in South Korea?

The won-based stablecoin will be issued by a consortium dominated by banks, while still allowing participation from technology companies.

When should the South Korean government submit a digital asset law proposal?

The South Korean government must submit its proposal by December 10.

What is the purpose of revising the Electronic Financial Transaction Law?

The revisions aim to increase penalties and enforcement after hacking incidents, enhancing financial security.

How will the new law affect US-based stablecoins?

The new law will set clearer rules for US-based stablecoins, such as Tether (USDT) and USD Coin (USDC), which are important due to their dominance in the global market.

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Reference

• Crypto News. South Korea Lawmakers to Introduce Digital Asset Act in January 2025. Accessed on December 2, 2025
• Featured Image: Generated by Ai