South Korea Unveils Digital Asset Basic Act, Stablecoin Rules; Banks to Adopt Crypto, Kim Yong-beom Appointed

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Updated Jun 10, 2025, 04:53 AM

South Korea's new President, Lee Jae-myung, is advancing digital asset reforms, including legislation this week to allow major banks to adopt Bitcoin and other cryptocurrencies. The government plans to establish a digital assets committee to reform crypto laws.

The administration has unveiled a plan to permit the use of crypto stablecoins under strict capital and reserve requirements. The proposed Digital Asset Basic Act would allow South Korean companies with more than $368,000 in capital to issue stablecoins.

President Lee appointed Kim Yong-beom, former Hashed CEO, as Chief of the Presidential Policy Office. The ruling party supports crypto ETFs and KRW-denominated stablecoins as part of the regulatory overhaul.

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#South Korea #Bitcoin #Digital Asset Basic Act #South Korean #Lee #Hashed #Presidential Policy Office

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Sources

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Cointelegraph

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🇰🇷 JUST IN: South Korea’s ruling party introduces legislation to allow stablecoins. The proposed Digital Asset Basic Act would enable South Korean companies with over $368K in capital to issue stablecoins.