Search results for Digital Assets Framework Act
Crypto
Digital Assets Framework Act in final stage, will not fall behind global trends
Financial Services Commission Chairman Lee Eok-won said preparations for the second stage of the Digital Assets Framework Act, including stablecoin institutionalisation, are complete and final consultations are under way. Lawmakers warned South Korea is lagging behind major economies in digital asset rulemaking and cited rising domestic trading in overseas stablecoins. Lee said the framework is largely in place and would be run based on market conditions. He also apologised for losses and market confusion after single-stock leveraged ETF launches.
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.
