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Crypto

South Korea government, ruling party step up push for digital asset framework law this year

South Korea aims to complete digital asset legislation this year, and the ruling Democratic Party is pushing to submit a government-party package in September. A senior Financial Services Commission official said stablecoin legislation will be wrapped up quickly and will cover definitions, market rules and user protection. Key sticking points include who can issue won-based stablecoins, licensing and reserve management, AML rules, and limits on major shareholders of exchanges. The party plans to rebuild its task force after August leadership appointments.

Finance

Eight Percent acquires Apanda Partners to expand alternative investment platform

Online investment-linked finance company Eight Percent is acquiring token securities operator Apanda Partners to expand into the digital alternative investment market. Eight Percent said it made a strategic investment to become Apanda Partners\' largest shareholder. Key shareholders were reshuffled to include Eight Percent, Shinhan Investment Corp and EQBR. Apanda Partners plans to structure various asset-backed claims into digital products and will independently handle securities-related work after obtaining required approvals.

Crypto

Ruling party to resume talks on Digital Asset Framework Act in September

South Korea\'s ruling party is expected to reorganise its digital asset task force after an August party convention and resume talks in September on a Digital Asset Framework Act. Lawmaker Park Min-gyu said the party would pursue introducing the bill after consultations between the party and the government. Key issues include who can issue stablecoins and limits on exchange ownership stakes. Industry participants called for broader safeguards and crisis mechanisms, not only issuer eligibility.