South Korean digital asset law postponed until after local elections

South Korea's National Policy Committee has effectively postponed discussions on the second phase of a basic act on digital assets until after the June 3 local elections, a move that is deepening uncertainty in the industry, Maeil Business Newspaper reported. The committee excluded the bill from the agenda of its bill review subcommittee on March 31. The newspaper added that the key legislative sticking points include: - Whether to designate banks as the sole issuers of won-denominated stablecoins. - The potential introduction of regulations restricting the post-facto equity holdings of major exchange shareholders. With the bill's proposal now likely delayed until after the June elections, related businesses have begun to readjust their roadmaps, the report noted.