Ahn Do-geol says South Korea’s Digital Asset Basic Act will be pushed in the second half of the 22nd National Assembly

Rep. Ahn Do-geol of the Democratic Party of Korea says the party will move quickly on the Digital Asset Basic Act once the second-half National Policy Committee is formed. For stablecoin and digital asset businesses, the point is simple: the legislative framework is moving, but the details that matter for issuance, bank ownership, and exchange control are still being fought over.

1. The Democratic Party of Korea’s digital asset task force (TF) plans to name the Digital Asset Basic Act a priority legislative task and advance it as soon as the second-half National Policy Committee is established. Ahn, who serves as TF secretary, said the party expects the bill to be taken up “with speed” in the second half of the 22nd National Assembly.
2. At a policy forum held on the 27th at the National Assembly, titled Policy forum for the spread of stablecoins and the reorganization of the financial system, the TF discussed policy tasks for stablecoin expansion, directions for corporate participation, and responses to risk. Ahn said the debate over whether stablecoins should be allowed is already over, and that the real work now is “how to internalize stablecoins into the national financial system.”
3. The party had earlier held a TF meeting in February and aimed to introduce the Digital Asset Basic Act in March, but discussion has been delayed by the schedule, including the Middle East war and local elections. The unresolved issues are specific: the equity structure of banks at 50%+1 share when issuing stablecoins, and restrictions on equity transactions by controlling shareholders of exchanges.
4. The Democratic Party plans to finalize a legislative approach through TF-affiliated lawmakers immediately after the negotiating bodies for the second half of the 22nd National Assembly are formed. Ahn said the party needs to sort out what belongs in the law and what should go into the enforcement decree, then reflect that in an alternative draft before moving forward with ruling-opposition consultations.