TechFlow news, December 30: According to Yonhap News Agency, South Korea's government is incorporating investor protection measures into the draft "Digital Asset Basic Act" (the second-phase virtual asset bill), including no-fault liability for digital asset operators and bankruptcy risk isolation for stablecoin issuers. The bill requires stablecoin issuers to deposit reserve assets with custodial institutions such as banks, maintaining reserves equal to at least 100% of the issued balance. However, due to disagreements between the Financial Services Commission and the Bank of Korea on key issues such as the eligible entities allowed to issue stablecoins and the regulatory framework, the submission of the government's proposal will be postponed until next year. The Financial Services Commission stated it is currently working with relevant agencies to gradually narrow differences in positions.
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