You Won’t Believe South Korea’s New Crypto Plan! 🚀

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Hold onto your Bitcoin wallets, folks! Ruling party lawmaker Min Byeong-deok just dropped the Digital Asset Basic Act like it’s hot, claiming it’s the secret sauce for Korea to become the next crypto superstar. Because nothing says “trust” like a new law, am I right?

Crypto celebration

He says this legislation will put Korea at the digital economy’s head of the class and actually make blockchain markets less sketchy. Shocking, I know.

Stablecoins Get a Makeover: License to Chill (or Not)

Guess what? The bill’s introducing a licensing system for stablecoin issuers. Because if you’re gonna print money digitally, might as well do it with some fancy rules. There’s a minimum capital requirement of 500 million won ($367,890)—because, apparently, not all stablecoins are created equal. 😉

This is basically Korea’s way of saying, “We back this digital Won, and we want to keep foreign-denominated stablecoins from running away faster than you can say ‘capital outflow’.”

Min, who led the digital asset committee during the legendary election, insists sovereign stablecoins are “super important.” Sure, buddy. Whatever keeps us from losing our digital shirts.

Stablecoin

Investor Protection? Child’s Play

This new bill isn’t Korea’s first rodeo. It’s an extension of the Virtual Asset Investor Protection Act, which went into effect in July 2024—because nothing builds confidence like baby steps in regulation, right?

Now, this law aims to set the rules for digital asset operations and promises a long-term plan to keep the crypto Wild West somewhat tamed. Institutional clarity—because who doesn’t love a little legal jargon to make everything sound serious?

Secure Investment

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2025-06-10 16:19