Democratic Party lawmaker Min Byung-duk called for completing South Korea's Digital Asset Basic Act before January 9, 2027, to align with the U.S. stablecoin regulatory regime taking effect on January 18. Speaking at a discussion session on November 13, Min argued against restricting won-denominated stablecoin issuance to bank-majority consortia, advocating instead that any entity meeting requirements such as 100% reserves and instant redemption should be permitted to participate.
Min also proposed establishing a presidential digital asset committee, extending the crypto tax implementation date to 2029, and allowing three-year loss carryforwards for digital asset investors. The push reflects growing urgency in Seoul to finalize its comprehensive crypto framework amid accelerating global regulatory developments.
South Korean Lawmaker Pushes to Pass Digital Asset Basic Act by Early January to Match U.S. Stablecoin Rules
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