Svmuu News South Korea's ruling party has proposed the "Digital Asset Basic Act," aiming to establish a comprehensive legal framework covering issuance, trading, custody, and regulation.
The bill categorizes digital assets pegged to fiat currency or real-world assets, such as stablecoins, as a special category, requiring issuers to obtain licenses and meet requirements for capital, reserves, and redemption. Simultaneously, the bill plans to introduce a licensing and information disclosure system, explicitly prohibiting market manipulation and insider trading, and intends to establish a Digital Asset Committee to oversee and coordinate regulation. (CoinDesk)