South Korea to bring RWAs and stablecoins under existing financial frameworks: report
South Korea's ruling party plans to regulate tokenized real-world assets and stablecoins using existing financial laws.Summary
South Korea's Democratic Party is moving to integrate tokenized real-world assets (RWAs) and stablecoins into the country's existing regulatory frameworks through its proposed "Digital Asset Basic Act." Under the plan, RWA issuers must place assets in managed trusts per the Capital Markets Act, while stablecoins will be classified as a "means of payment" under the Foreign Exchange Transactions Act to allow supervision by forex authorities.
Key provisions include banning interest yields on idle stablecoin balances and mandating that the Financial Services Commission develop technical standards for interoperability. While the proposal aims to foster everyday stablecoin usage by exempting small transactions from reporting, it maintains oversight on larger volumes as part of a broader, though delayed, digital asset legislative push.
(Source：The Block)