TechFlow News, April 8: According to The Block, South Korea’s Democratic Party plans to incorporate tokenized real-world assets (RWAs) and stablecoins into the existing legal framework; relevant provisions have been included in the draft “Digital Asset Basic Act.”
The draft requires issuers of tokenized RWAs to deposit the underlying assets into trust accounts under the “Capital Markets Act”; stablecoins are classified as “means of payment” under the “Foreign Exchange Transaction Act” and will be supervised by the foreign exchange authority without requiring separate registration. Small-value stablecoin transactions are exempt from foreign exchange reporting requirements, while large-value transactions remain subject to regulatory oversight. Additionally, the draft prohibits offering returns on idle stablecoin balances and mandates that the Financial Services Commission establish technical standards for stablecoin interoperability.
The “Digital Asset Basic Act” is South Korea’s second digital asset regulatory framework and has faced repeated legislative delays; its original rollout timeline targeting 2025 has been postponed.
