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The ruling party of South Korea plans to incorporate tokenized RWA and stablecoins into the existing financial regulatory framework
According to The Block, the Democratic Party of Korea plans to incorporate tokenized real-world assets (RWA) and stablecoins into the existing legal framework, with relevant provisions included in the proposal for the Digital Asset Basic Law.
The proposal requires issuers of tokenized RWA to deposit the underlying assets into a trust account in accordance with the Capital Markets Act; stablecoins are classified as a "means of payment" under the Foreign Exchange Transaction Act and are regulated by the foreign exchange authority without the need for separate registration. Small stablecoin transactions are exempt from foreign exchange reporting, while large transactions maintain regulatory requirements.
In addition, the proposal prohibits providing yields on idle stablecoin balances and requires the Financial Services Commission to establish technical standards for stablecoin interoperability. The Digital Asset Basic Law is Korea's second set of digital asset regulatory regulations, which has faced multiple legislative delays, with the originally scheduled rollout in 2025 being postponed.
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