South Korean Lawmakers Propose 'Korea-Style Onshoring Strategy' for Digital Assets on July 15

According to a seminar organized by the Digital Asset Exchange Association (DAXA) and policy think tank MRI on July 15 in Seoul, South Korean lawmakers proposed implementing a 'Korea-style onshoring strategy' for digital asset regulation, drawing insights from the U.S. approach. Participants, including Democratic Party lawmakers Min Byeong-deok and Park Min-kyu, recently visited the U.S. to study digital asset policies at the SEC, White House, and major financial institutions.

Attorney Han Seo-hee noted that the U.S. employs an onshoring strategy to attract digital asset companies and users domestically, including through the CFTC's permissive approach and the Clarity Act. Kim Jong-seung, head of MRI, emphasized that stablecoin policy design should prioritize value stabilization mechanisms over issuer ownership structures. Park Min-kyu indicated the Democratic Party aims to establish a task force after its August 17 convention, targeting bill submission in early September.