KEA urges South Korean gov't to enact basic digital asset act for STOs

The Korea Economic Association (KEA) has urged the South Korean government to enact a basic act on digital assets to promote the expansion of Security Token Offerings (STO), Digital Asset reported. The KEA made the recommendation today at a joint meeting chaired by South Korean Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol. The association noted that while amendments to the Electronic Securities Act and the Capital Markets Act for STO introduction are scheduled for implementation in January 2027, discussions on payment and settlement methods have been insufficient. The KEA highlighted that countries like the U.S., Japan, and Germany use stablecoins optimized for STOs as key settlement methods, whereas in South Korea, related legislative plans have been postponed indefinitely.