Mi Ge saw some breaking news from South Korea: Min Byung-duk, a Democratic Party lawmaker, said that South Korea’s Digital Asset Basic Act will be finalized in early January next year, with lawmakers aiming to complete the legislation. He also proposed establishing a Digital Asset Committee directly under the president.
The urgency is clear: the U.S. stablecoin framework is expected to take effect on January 18 next year, and South Korea wants to get its own regulatory framework in place first. There’s still disagreement over issuing won-denominated stablecoins. Min Byung-duk opposes making a 50% plus one share bank ownership requirement a condition for issuance.
The key issues are set to be discussed intensively as early as next week, with industry representatives and experts taking part over the next two months. Mi Ge will be following next week’s discussions closely. How stablecoin issuance requirements are written into the final draft will directly determine the scale of the won stablecoin market. Meanwhile, a quick look at the market: Bitcoin is currently around $69,399, down 5.55% in the past 24 hours, after hitting a low of $67,568 today. The market is still waiting for the PPI data due at 21:30 tonight. What do you think—would easing the requirements for won-denominated stablecoins be good or bad for the South Korean market?
#韩国数字资产基本法预计1月初定稿
The urgency is clear: the U.S. stablecoin framework is expected to take effect on January 18 next year, and South Korea wants to get its own regulatory framework in place first. There’s still disagreement over issuing won-denominated stablecoins. Min Byung-duk opposes making a 50% plus one share bank ownership requirement a condition for issuance.
The key issues are set to be discussed intensively as early as next week, with industry representatives and experts taking part over the next two months. Mi Ge will be following next week’s discussions closely. How stablecoin issuance requirements are written into the final draft will directly determine the scale of the won stablecoin market. Meanwhile, a quick look at the market: Bitcoin is currently around $69,399, down 5.55% in the past 24 hours, after hitting a low of $67,568 today. The market is still waiting for the PPI data due at 21:30 tonight. What do you think—would easing the requirements for won-denominated stablecoins be good or bad for the South Korean market?
#韩国数字资产基本法预计1月初定稿