The ruling party of South Korea has established a digital asset working group to draft legislation on stablecoins and cryptocurrencies

ChainCatcher news, according to Decrypt, the ruling Democratic Party of Korea has established a digital asset task force to draft comprehensive stablecoin and cryptocurrency legislation.

The task force aims to enact digital asset laws during this year's regular session and the National Assembly meeting at the end of the year. The country is facing increasing pressure from capital outflows, with $40.6 billion in digital assets transferred abroad in the first quarter of 2025, half of which are stablecoins.