{"id":5147,"date":"2025-12-31T07:40:08","date_gmt":"2025-12-31T07:40:08","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=5147"},"modified":"2025-12-31T07:40:08","modified_gmt":"2025-12-31T07:40:08","slug":"regulatory-rift-delays-south-koreas-landmark-crypto-law-over-stablecoin-control","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=5147","title":{"rendered":"Regulatory Rift Delays South Korea\u2019s Landmark Crypto Law Over Stablecoin Control"},"content":{"rendered":"

<\/p>\n

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  • South Korea has delayed its Digital Asset Basic Act until 2026 due to a regulatory deadlock over which institutions can issue won-pegged stablecoins.<\/span><\/li>\n
  • The Bank of Korea insists that banks must hold a 51% controlling stake in stablecoin issuers, while the Financial Services Commission argues this would stifle competition from fintech firms.<\/span><\/li>\n
  • New rules may require foreign issuers like Circle (USDC) to establish local branches to operate, while exchanges would face strict liability for user losses from hacks or system failures.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    South Korea\u2019s Digital Asset Basic Act has been pushed back after regulators failed to agree on stablecoin policy.<\/p>\n

    The broad bill, meant to set rules for crypto trading and token issuance, is being disputed over who can issue a stablecoin tied to the Korean won, the token designed to hold a fixed value against fiat currency.<\/p>\n

    According to a report by Korea Tech Deck, the Bank of Korea wants issuance limited to entities where banks hold a 51% controlling stake, arguing bank-led structures are easier to supervise and better suited to manage solvency and anti-money-laundering risks.\u00a0<\/p>\n

    However, the Financial Services Commission (FSC) supports stricter safeguards but has opposed a hard ownership threshold, saying it would shut out fintech firms and reduce competition.<\/p>\n

    The FSC has pointed to overseas models where licensed issuers are often non-bank crypto or payments firms, citing the European Union\u2019s Markets in Crypto-Assets (MiCA) framework and Japan\u2019s regulated, fintech-driven stablecoin projects.\u00a0<\/p>\n

    Read more:<\/strong> Trump Family Crypto Tie Deepens Scrutiny as Alt5 Fires Auditor<\/p>\n

    Pressure Mounts Over Crypto Legislation<\/h2>\n

    South Korea\u2019s ruling Democratic Party has also criticised the 51% proposal, with lawmaker Ahn Do-geol saying most experts consulted questioned whether the rule would support innovation and noting a lack of clear global precedents for a sector-specific ownership requirement.<\/p>\n

    Rules for foreign stablecoins remain another unresolved issue. An earlier FSC draft would allow offshore issuers to operate if they are licensed and maintain a local branch or subsidiary, a step that could require major issuers such as Circle (USDC) to establish a Korean presence. The regulator also drafted rules that would force exchanges to reimburse users for losses from hacking or system failures.<\/p>\n

    Local reporting expects the impasse to delay passage until at least January, with full rollout now seen as unlikely before later in 2026.<\/p>\n

    Read more:<\/strong> Uniswap Burns $596M in UNI After Near-Unanimous Governance Vote<\/p>\n<\/p><\/div>\n

    Digital Asset,South Korea,Stablecoins#Regulatory #Rift #Delays #South #Koreas #Landmark #Crypto #Law #Stablecoin #Control1767166808<\/p>\n","protected":false},"excerpt":{"rendered":"

    South Korea has delayed its Digital Asset Basic Act until 2026 due to a regulatory deadlock over which institutions can issue won-pegged stablecoins. The Bank of Korea insists that banks must hold a 51% controlling stake in stablecoin issuers, while the Financial Services Commission argues this would stifle competition from fintech firms. New rules may<\/p>\n","protected":false},"author":1,"featured_media":5148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[77,62,579,581,178,582,577,578,580,166],"class_list":{"0":"post-5147","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-control","9":"tag-crypto","10":"tag-delays","11":"tag-koreas","12":"tag-landmark","13":"tag-law","14":"tag-regulatory","15":"tag-rift","16":"tag-south","17":"tag-stablecoin"},"yoast_head":"\nRegulatory Rift Delays South Korea\u2019s Landmark Crypto Law Over Stablecoin Control - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=5147\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regulatory Rift Delays South Korea\u2019s Landmark Crypto Law Over Stablecoin Control\" \/>\n<meta property=\"og:description\" content=\"South Korea has delayed its Digital Asset Basic Act until 2026 due to a regulatory deadlock over which institutions can issue won-pegged stablecoins. 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