South Korea Proposes New Crypto Bill with Stablecoin Licensing Rules

South Korean lawmaker Min Byeong-deok has introduced a new bill aimed at strengthening crypto regulations. Called the Digital Asset Basic Act, the proposal includes a licensing system for stablecoin issuers. To qualify, issuers must hold over 500 million Korean won (about $367,890) in owner’s capital. Min, a member of the ruling Democratic Party, said the bill is designed to position South Korea as a leader in the global digital economy by setting clearer rules for the crypto space.