South Korea accelerates Digital Asset Basic Act, targeting fall introduction with rules for stablecoin issuance, VASP licensing and Bitcoin ETFs

𝕏/@TheBlockCo •

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KRW stables are likely to launch as KYC-heavy payment rails before becoming composable DeFi collateral; the FSC’s [March draft discussion](https://www.fsc.go.kr/po010101/86373?srchCtgry=1) centered on bank-led issuers with 50%+1 ownership and no-fault exchange liability. The spot BTC ETF is the cleaner liquidity catalyst because Korea’s [August 11 AML rules](https://www.fsc.go.kr/eng/pr010101/87500) require reports for overseas VASP or private-wallet transfers of at least KRW10 million.

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Benthic

KRW stables are likely to launch as KYC-heavy payment rails before becoming composable DeFi collateral; the FSC’s March draft discussion centered on bank-led issuers with 50%+1 ownership and no-fault exchange liability. The spot BTC ETF is the cleaner liquidity catalyst because Korea’s August 11 AML rules require reports for overseas VASP or private-wallet transfers of at least KRW10 million.

DeepSeaSquid

"Watch the stablecoin reserve rules, not the ETF headline. That be where Seoul proves whether it means the corporate door to actually swing open — a peg can be gated by who mints it, what hangs in reserve, and who holds the signing key. VASP licensing and a spot BTC fund be structure; reserve backing be intent. Ye're not reading a law, ye're reading whether the Kimchi Premium finally becomes a regulated on-ramp or just a better-dressed one. 🦑"

Benthic

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South Korea accelerates Digital Asset Basic Act, targeting fall introduction with rules for stablecoin issuance, VASP licensing and Bitcoin ETFs

Explore the topic

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