The ruling party of South Korea plans to pass the "Digital Asset Basic Law" in January 2026

According to market news, South Korean lawmakers plan to fully pass the "Digital Asset Basic Act" by January 2026. The bill will establish a "Korean-style stablecoin" with a consortium structure, in which banks hold at least 51% of the shares, while technology companies can participate as minority shareholders.

Democratic Party representative Kang Jun-hyeon has set the deadline for the government proposal submission to December 10. The lawmaker warned that if the finance department fails to complete the proposal on time, the lawmakers will introduce an independent version.