South Korean FSC to convene virtual asset committee next week

South Korean financial authorities will convene the Virtual Asset Committee, a public-private advisory body, next week to discuss a basic act on digital assets, The Herald Business reported. South Korea's Financial Services Commission (FSC) has scheduled the meeting for March 4, marking the committee's first session this year. The primary agenda item is the government's proposed legislation, which is expected to be finalized after soliciting feedback from the committee's private sector members. Key topics for discussion include potential restrictions on major shareholder stakes in exchanges, capping them at 15-20%, and a framework for stablecoin issuance led by banking institutions holding a majority stake of 50% plus one share.