South Korea

Virtual Asset Basic Act (bill no. 2218219)

가상자산기본법안 (김성원의원 등 10인)

A People Power Party basic law: FSC authorisation for stablecoin issuers, advance notice for other token issuances, FSC approval for exchanges to offer derivatives, services for professional investors and bans on insider trading and manipulation.

National Assembly of the Republic of KoreaReferred to the National Policy Committee

• KSKim Seong-wonMember of the National Assembly (People Power Party)

Full Amendment of the Act on the Protection of Virtual Asset Users (bill no. 2215245)

가상자산 이용자 보호 등에 관한 법률 전부개정법률안 (이성권의원 등 11인)

Would rewrite the 2024 User Protection Act as the Digital Asset Industry Development and User Protection Act, adding a development plan and fund, FSC licensing of businesses, registration of token issuances and mandatory disclosure.

National Assembly of the Republic of KoreaReferred to the National Policy Committee

• LSLee Seong-kwonMember of the National Assembly (People Power Party)

Act on Digital Asset Markets and Industry (bill no. 2214492)

디지털자산의 시장 및 산업에 관한 법률안 (박상혁의원 등 10인)

Would replace the User Protection Act with a comprehensive law that treats professional and general users differently, add stablecoin issuance and reserve rules, and amend the Capital Markets Act to allow crypto ETFs and derivatives.

National Assembly of the Republic of KoreaReferred to the National Policy Committee

• Park Sang-hyukMember of the National Assembly (Democratic Party)

Basic Act on Fostering Digital Assets (bill no. 2213449)

디지털자산 육성 기본법안 (최보윤의원 등 10인)

An industry promotion law: a national master plan and committee, business licensing, reserve rules for stablecoin issuers and a self-regulatory Korea Digital Asset Business Association running listing and market surveillance committees.

National Assembly of the Republic of KoreaReferred to the National Policy Committee

• CBChoi Bo-yoonMember of the National Assembly (People Power Party, proportional)

Digital Asset Market Integration Act (bill no. 2213266)

디지털자산시장통합법안 (김재섭의원 등 10인)

Would pull Korea's scattered crypto rules into one law, with FSC licensing or registration of businesses, user protection, disclosure and market abuse rules, and special rules for fixed-value coins.

National Assembly of the Republic of KoreaReferred to the National Policy Committee

• KJKim Jae-seopMember of the National Assembly (People Power Party)

Act on Innovation and Growth of the Digital Asset Market (bill no. 2213166)

디지털자산시장의 혁신과 성장에 관한 법률안 (이강일의원 등 11인)

Would allow domestic token offerings backed by issuer disclosure, license stablecoin issuers, bring crypto businesses under licensing or registration, ban market abuse and set up a self-regulatory body.

National Assembly of the Republic of KoreaReferred to the National Policy Committee

• Lee Kang-ilMember of the National Assembly (Democratic Party)

Digital Asset Basic Act (bill no. 2210736)

디지털자산기본법안 (민병덕의원 등 37인)

The lead phase 2 bill, pending before the National Policy Committee. It would license digital asset businesses and issuers and create a regime for asset-referenced tokens, including won stablecoins.

National Assembly of the Republic of KoreaIn subcommittee, National Policy Committee

• Min Byung-deokMember of the National Assembly (Democratic Party)

Act on the Value-Stable Digital Asset Issuance Business (bill no. 2212298)

가치안정형 디지털자산 발행업 등에 관한 법률안 (김현정의원 등 12인)

Would license stablecoin issuers, require segregated reserves at least equal to the coins in issue and redemption on demand, and set rules for foreign stablecoins traded on Korean exchanges. One of several competing bills awaiting a merged government and ruling party draft.

National Assembly of the Republic of KoreaIn subcommittee, National Policy Committee

• Kim Hyun-jungMember of the National Assembly (Democratic Party)

Act on Payment Innovation Using Value-Fixed Digital Assets (bill no. 2211777)

가치고정형 디지털자산을 활용한 지급 혁신에 관한 법률안 (김은혜의원 등 10인)

The People Power Party's stablecoin bill. Issuers would need an FSC licence and face white-paper liability, redemption and reserve rules, and registered foreign stablecoins could circulate. Unlike most rival bills it does not ban paying interest.

National Assembly of the Republic of KoreaIn subcommittee, National Policy Committee

• Kim Eun-hyeMember of the National Assembly (People Power Party)

Act on the Issuance and Distribution of Value-Stable Digital Assets (bill no. 2211784)

가치안정형 디지털자산의 발행 및 유통에 관한 법률안 (안도걸의원 등 10인)

Would license stablecoin issuers through the FSC with reserve, disclosure and redemption duties and a ban on paying interest, and give the Bank of Korea and the Ministry of Economy and Finance a role in oversight.

National Assembly of the Republic of KoreaIn subcommittee, National Policy Committee

• Ahn Do-geolMember of the National Assembly (Democratic Party)

Amended Legislation Establishes Legal Ground for Introducing and Circulating Security Tokens

Amendments to the Electronic Registration Act and the Capital Markets Act, passed 15 January 2026 and effective 4 February 2027, recognise distributed ledgers as securities registries and let brokers distribute investment contract securities.

Financial Services Commission (FSC)

• KJKang Jun-hyunMember of the National Assembly (Democratic Party)
• Min Byung-deokMember of the National Assembly (Democratic Party)
• KJKim Jae-seopMember of the National Assembly (People Power Party)

Capital Markets Act amendment to allow spot crypto ETFs (bill no. 2211117)

자본시장과 금융투자업에 관한 법률 일부개정법률안 (민병덕의원 등 20인)

Would let crypto assets designated by the FSC serve as the underlying asset of funds and derivatives, with trust companies holding them through qualified custodians: the legal route to spot bitcoin ETFs.

National Assembly of the Republic of KoreaIn subcommittee, National Policy Committee

• Min Byung-deokMember of the National Assembly (Democratic Party)

FSC Proposes Rules Change to Pave Way for Tokenization of Securities Issuance and Circulation

Draft enforcement rules under the Capital Markets Act and Electronic Registration Act, open for comment from 2 October to 11 November 2026: ledgers shared by at least two account managers and the KSD, ₩4 billion capital for issuer account managers and a new OTC licence unit for debt securities.

Financial Services Commission (FSC)

Income Tax Act (virtual asset income provisions)

소득세법

Taxes gains from transferring or lending virtual assets as other income at 20% plus 2% local tax above ₩2.5 million a year, effective 1 January 2027 after three postponements.

Ministry of Government Legislation (National Law Information Center)

Income Tax Act amendment to defer the crypto gains tax to 2029 (bill no. 2220914)

소득세법 일부개정법률안 (김상훈의원 등 12인)

Would push the start of crypto gains taxation back two years to 1 January 2029, citing gaps in tracing DeFi and peer-to-peer trades and in cross-border data exchange. Taken up by the Finance and Economic Planning Committee on 29 September 2026.

National Assembly of the Republic of KoreaIn subcommittee, Finance and Economic Planning Committee

• Kim Sang-hoonMember of the National Assembly (People Power Party)

Income Tax Act amendment to abolish the crypto gains tax (bill no. 2217609)

소득세법 일부개정법률안 (송언석의원 등 12인)

Would repeal the tax on virtual asset gains due from 1 January 2027, as the financial investment income tax was repealed before it. Taken up by the Finance and Economic Planning Committee on 29 July 2026.

National Assembly of the Republic of KoreaIn subcommittee, Finance and Economic Planning Committee

• SESong Eon-seokMember of the National Assembly (People Power Party)