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The South Korean government plans to establish a regulatory framework for stablecoins this year and introduce a digital asset spot ETF.
BlockBeats News, January 9th, according to News1, the South Korean government plans to enact the "Digital Assets (Virtual Assets) Second Stage Act" this year, which includes a stablecoin regulation system, and will simultaneously introduce a cross-border stablecoin transaction regulation scheme linked to the act.
In addition, a Digital Asset Spot Exchange Traded Fund (ETF) is also planned to be introduced within this year.
On the 5th, the government released the "2026 Economic Growth Strategy" containing the above content, with the Financial Services Commission as the overseeing agency. First, the Financial Services Commission will advance the legislation for the second stage of digital assets. Regarding stablecoins, the following are expected to be included:
· Issuance license system (including capital requirements)
· Reserve asset management (maintaining issuance amount at or above 100%)
· Redemption request rights, etc.
At the same time, a regulatory scheme for cross-border stablecoin transfer and transactions linked to the act will be established. The overseeing agencies are the Financial Services Commission and the Ministry of Economy and Finance.
Taking into account that Bitcoin spot ETFs in the United States, Hong Kong, and other regions have achieved active trading, this plan also includes allowing Digital Asset Spot ETFs within this year. Previously in South Korea, due to digital assets like Bitcoin not being recognized as underlying assets for ETFs, spot ETF trading could not take place.
In addition to stablecoins, the government also plans to have a quarter of the national treasury funds utilized in the form of digital currency, known as "deposit tokens," by 2030.
The government stated that it will amend the "South Korean Banking Act," "National Treasury Fund Act," etc., after reviewing the results of pilot projects, and establish legal grounds for blockchain-based payment settlements within the year. Furthermore, there are plans to promote the use of electronic wallets for payments, including operational advancement fees.
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