TechFlow News: On April 9, according to CoinDesk, South Korea’s ruling Democratic Party proposed the “Digital Asset Basic Act” this Wednesday, aiming to establish a comprehensive legal framework governing the issuance, trading, custody, and supervision of digital assets. The bill classifies value-linked digital assets—such as stablecoins pegged to fiat currency or real-world assets—as a special category, requiring issuers to obtain authorization and meet stringent standards including capital requirements, reserve plans, and redemption obligations. Additionally, the bill introduces licensing, registration, and disclosure requirements for digital asset businesses; prohibits improper conduct such as market manipulation and insider trading; and proposes establishing a Digital Asset Committee to coordinate policy implementation.
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