BlockBeats News, January 9 – According to News1, the South Korean government plans to establish the “Second Phase Legislation on Digital Assets (Virtual Assets)” including a stablecoin regulatory framework this year, and will simultaneously introduce a cross-border stablecoin transfer and trading regulatory scheme linked to this legislation.
In addition, a digital asset spot trading exchange-traded fund (ETF) is also planned to be introduced within this year.
On the 5th, the government released the “2026 Economic Growth Strategy” containing the above content, with the Financial Services Commission as the responsible department. First, the Financial Services Commission will promote the second phase of digital asset legislation. Regarding stablecoins, the following are expected to be included:
· Issuance license system (capital requirements, etc.)
· Reserve asset management (maintaining issuance volume above 100%)
· Redemption rights, etc.
At the same time, a regulatory scheme for cross-border stablecoin transfers and trading linked to this legislation will be developed. The responsible departments are the Financial Services Commission and the Ministry of Economy and Finance.
Considering that Bitcoin spot ETFs have already been actively traded in other countries and regions such as the US and Hong Kong, this plan also includes allowing digital asset spot ETFs within this year. Previously in South Korea, spot ETF trading was not possible because digital assets like Bitcoin were not recognized as underlying assets for ETFs.
Apart from stablecoins, the government also plans to promote a scheme by 2030 to utilize a quarter of national treasury funds in the form of digital currency, known as “deposit tokens.”
The government stated that after reviewing the results of pilot projects, it will amend laws such as the “Bank of Korea Act” and the “Treasury Fund Management Act,” and establish a legal basis for blockchain-based payment settlement within the year. Additionally, it plans to promote electronic wallets that can be used for business operation fees and other payments.
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