The ruling party of South Korea plans to pass the "Basic Law on Digital Assets" in January next year, with a bank-led alliance model for stablecoin adoption

The ruling party and opposition party in South Korea have reached a breakthrough agreement on the regulatory framework for stablecoins, planning to pass the complete "Digital Asset Basic Law" by January 2026. The bill establishes a "Korean-style stablecoin" alliance structure, requiring banks to hold at least 51% equity, while technology companies can participate as minority shareholders.

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