South Korea's ruling party plans to pass the Digital Asset Basic Act in January next year, with stablecoins adopting a bank-led consortium model

ChainCatcher reported that South Korea's ruling and opposition parties have reached a breakthrough agreement on a stablecoin regulatory framework, with plans to pass the complete "Basic Digital Asset Act" by January 2026. The bill establishes a "Korean-style stablecoin" alliance structure, requiring banks to hold at least 51% equity, while technology companies may participate as minority shareholders.

Democratic Party lawmaker Kang Jun-hyeon has set December 10 as the deadline for the government's proposal. If financial authorities fail to submit it on time, lawmakers will introduce an independent version.