South Korean stablecoin bill faces delays, ruling party says first-half passage unlikely

Passing South Korea's Digital Asset Basic Act, which includes stablecoin regulations, is unlikely in the first half of this year, Edaily reported. The legislation, a national agenda item, has reportedly been deprioritized in favor of addressing the war in Iran and preparing for local elections. The ruling Democratic Party has not included the bill on the agenda for the National Assembly's National Policy Committee subcommittee meetings scheduled for March 31 and for another session next month. Kang Jun-hyeon, the ruling party's secretary for the committee, told the outlet that it would be physically difficult to table and discuss the act during these sessions. He also stated that no dates have been set for meetings of the digital asset task force or for party-government consultations on the matter.