South Korea to hold first government forum on stablecoin bill today

South Korea’s government will hold a forum today, chaired by Deputy Prime Minister for Economic Affairs Koo Yun-cheol, to begin legislative discussions on the second-phase Digital Asset Basic Act covering stablecoins, Edaily reported. The deputy prime minister will attend what the outlet described as the first government-hosted and government-organized forum on stablecoin legislation. With the U.S. GENIUS Act set to take full effect in January and dollar stablecoins expected to spread further, the government and the ruling Democratic Party plan to push for passage of the bill within this year. In the government’s 2026 economic growth strategy announced jointly on July 14 by the Ministry of Economy and Finance, South Korea’s Financial Services Commission and other related agencies, authorities said they plan to pursue legislation for the Digital Asset Basic Act in the second half of this year to subdivide the digital asset industry, establish a regulatory framework for business conduct, and build a legal foundation for regulatory formalization of stablecoins.