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.

Nigeria is moving to overhaul cryptocurrency regulation and taxation. President Bola Tinubu signed an executive order aimed at reducing fragmented oversight of digital assets and strengthening cooperation among financial, revenue and capital market authorities. The order includes creating a virtual assets committee to coordinate policy among major regulators. Authorities said it does not create a new regulator or shift powers between agencies. Nigeria also plans to update digital asset tax policy and provide further details on taxpayer impacts.