{"id":31106,"date":"2025-06-10T12:31:46","date_gmt":"2025-06-10T12:31:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=31106"},"modified":"2025-06-10T12:31:46","modified_gmt":"2025-06-10T12:31:46","slug":"south-koreas-new-president-moves-to-legalize-stablecoins-through-crypto-bill","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=31106","title":{"rendered":"South Korea\u2019s New President Moves To Legalize Stablecoins Through Crypto Bill"},"content":{"rendered":"<div>\n<p>South Korea\u2019s newly elected President, Lee Jae-myung, has <a href=\"https:\/\/www.youtube.com\/live\/iKAwP7rfIXw?si=jvAdnArrz4uGXXDb\" target=\"_blank\" rel=\"nofollow\">proposed<\/a> the Digital Asset Basic Act. The crypto bill allows local companies to issue stablecoins.<\/p>\n<p>Lee \u2013 known as a progressive leader who defeated a conservative opponent \u2013 is moving quickly to deliver on promises made during his election campaigns. <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-korean-presidential-candidate-lee-jae-myung-pledges-to-legalize-crypto-etfs-if-elected-next-month\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Lee also advocated<\/a> for legalising spot crypto exchange-traded funds (ETFs). Notably, when it comes to crypto, both presidential candidates, liberal Lee and conservative Kim Moon-soo, had gone full pro-crypto with their election policies.<\/p>\n<p><span style=\"font-weight: 400\">\u201cToday, I would like to present a significant turning point for the future of digital finance in the Republic of Korea and to represent the basic law on digital assets,\u201d said lawmaker Min Byeong-deok, introducing the bill, in a 10 June 2025 press conference.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cDigital assets are no longer an experimental means,\u201d he said. \u201cBlockchain and artificial intelligence technology are already a key link between the global capital market and the established real economy i<\/span><span style=\"font-weight: 400\">nfrastructure.\u201d\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stablecoins can be issued in Korea now? ELI5 on the new bill <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f447.png\" alt=\"\ud83d\udc47\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>South Korea&#8217;s National Assembly has introduced the country\u2019s first Basic Act on Digital Assets which includes provisions on stablecoin issuance. <\/p>\n<p>This is a significant milestone as it marks the first comprehensive\u2026 <a href=\"https:\/\/t.co\/WVXc7els6z\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/WVXc7els6z<\/a><\/p>\n<p>\u2014 100y.eth (@100y_eth) <a href=\"https:\/\/twitter.com\/100y_eth\/status\/1932321279471997102?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 10, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coin-icos\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Best Meme Coin ICOs to Invest in May 2025<\/a><\/strong><\/p>\n<h2><strong>Criteria Stablecoin Issuers Need To Meet<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">According to the new bill, stablecoin issuers must obtain approval from the Financial Services Commission (FSC) and meet a few more eligibility criteria. The issuer must be a corporation established in South Korea and must have a minimum capital of at least KRW 500 million ($350k) with the specific amount to be defined by Presidential Decree.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the issuer must have a sound and viable business plan and must have the necessary physical infrastructure such as IT systems and qualified personnel as prescribed by Presidential Decree to protect users and perform its intended functions.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stablecoins are now a top 20 holder of US treasuries<\/p>\n<p>Bigger than Saudi Arabia, South Korea, UAE, Germany <a href=\"https:\/\/t.co\/ZhULykNZoV\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/ZhULykNZoV<\/a><\/p>\n<p>\u2014 Sar Haribhakti (@sarthakgh) <a href=\"https:\/\/twitter.com\/sarthakgh\/status\/1931140743474647456?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 7, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/p>\n<h2 id=\"increased-south-korean-crypto-participation-hastened-crypto-regulations\"><strong>South Korea\u2019s Increased Retail Crypto Participation\u00a0<\/strong><\/h2>\n<p>South Korea\u2019s increased retail crypto participation, along with its experience in the past with\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-korean-authorities-uncover-232m-crypto-fraud-youtube-star-in-spotlight\/\" rel=\"\">crypto frauds<\/a>, hastened new\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-koreas-mandatory-new-laws-for-crypto-exchanges-kicks-in\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">regulations<\/a>\u00a0through which the country intends to ensure greater transparency, security, and trust in the cryptocurrency ecosystem.<\/p>\n<p>Strict regulations (Virtual Asset User Protection Act) were brought into focus in July 2024. They imposed strict requirements on crypto exchanges that included potential life sentences for criminal violations.<\/p>\n<p>South Korea\u2019s Financial Services Commission, on 20 May 2025, established new regulations for non-profit crypto transactions and tightened listing criteria for exchanges.<\/p>\n<p>Furthermore, the South Korean Democratic Party kick-started a Digital Asset Committee to develop crypto policies and promote industry growth.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         South Korea\u2019s Digital Asset Basic Act will allow local companies to issue stablecoins.<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         According to the new bill, stablecoin issuers must obtain approval from the Financial Services Commission (FSC) and meet a few more eligibility criteria.<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p class=\"media-ui-Paragraph_text-SqIsdNjh0t0-\" data-component=\"paragraph\">\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/south-koreas-new-president-moves-to-legalize-stablecoins-through-crypto-bill\/\">South Korea\u2019s New President Moves To Legalize Stablecoins Through Crypto Bill<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s newly elected President, Lee Jae-myung, has proposed the Digital Asset Basic Act. The crypto bill allows local companies to issue stablecoins. Lee \u2013 known as a progressive leader who defeated a conservative opponent \u2013 is moving quickly to deliver on promises made during his election campaigns. Lee also advocated for legalising spot crypto [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-31106","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31106"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31106\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}