South Korea's ruling party plans to pass the Digital Asset Basic Act in January 2026

According to Jinse Finance, market sources report that South Korean legislators plan to fully pass the "Basic Law on Digital Assets" by January 2026. The bill will establish a "Korean-style stablecoin" using a consortium structure, in which banks will hold at least 51% of the equity, and technology companies can participate as minority shareholders. Democratic Party representative Kang Jun-hyeon has set December 10 as the deadline for submitting the government proposal. The lawmaker warned that if the Ministry of Finance fails to complete the proposal on time, legislators will introduce an independent version.