Search results for Digital Assets Framework Act
Crypto
Digital assets framework act wavers as bitcoin rivals gold
South Korea’s talks on a Digital Assets Framework Act are in final coordination, but disagreements persist over limits on major shareholders at digital asset exchanges. A compromise to broaden stablecoin issuers beyond banks was prepared, yet the bill was excluded from a March 19 party-government meeting as market volatility pushed schedules back. Regulators also imposed a six-month partial business suspension and a 36.8 billion won fine on Bithumb for alleged violations.
Crypto
Stablecoin issuance widened, but talks on Digital Assets Framework Act delayed again
South Korea\'s Democratic Party digital assets task force and the Financial Services Commission have drafted a compromise to widen the range of stablecoin issuers beyond banks to include fintech firms and allow central and local governments and public institutions to participate. But the Digital Assets Framework Act was excluded from the agenda of a March 19 party-government meeting, pushing back legislative discussion. Authorities remain cautious about corporate participation and investment use of stablecoins.
Crypto
Can Democrats file digital assets framework act before Lunar New Year as dispute persists over 51 percent rule, stake cap
South Korea\'s Democratic Party digital assets task force plans to submit a Digital Assets Framework Act before the Lunar New Year holiday, but key disputes with government authorities remain, including requiring banks to hold at least 51 percent of a won stablecoin issuance consortium and limiting major shareholders’ stakes in exchanges to 10 to 15 percent. Party members also differ internally. Lawmakers and industry cite legal contradictions and concerns about property rights and management control.