10-6-2025 – Newly elected President Lee Jae-myung is championing a transformative agenda to bolster the nation’s thriving cryptocurrency sector. His administration has wasted no time in advancing campaign pledges, with the ruling Democratic Party unveiling the ambitious Basic Law on Digital Assets on Tuesday. This legislative proposal seeks to foster a competitive and transparent environment for cryptocurrencies, a move that underscores South Korea’s fervent embrace of digital innovation.
The proposed law paves the way for domestic firms to issue stablecoins—cryptocurrencies tethered to stable assets, typically the U.S. dollar—provided they meet stringent financial criteria. Companies must maintain a minimum equity of 500 million won ($367,876) and secure reserves to guarantee refunds, ensuring stability and consumer confidence in this rapidly evolving market. President Lee, a vocal advocate for integrating stablecoins into the financial ecosystem, views this as a cornerstone of his vision to harness the potential of digital assets.
South Korea’s cryptocurrency market is already a pulsating hub of activity, with approximately 18 million citizens—over a third of the population—actively engaged in trading and investment. The nation’s domestic exchanges frequently outpace the trading volumes of the Kospi and KOSDAQ indices, reflecting the extraordinary enthusiasm for digital currencies. By introducing robust regulations, the government aims to nurture this vibrant sector while safeguarding its participants, positioning South Korea as a trailblazer in the global digital economy.
