South Korea's stablecoin bill likely delayed to next year

The South Korean government’s proposal to regulate won-denominated stablecoins is expected to be delayed until next year, Edaily reported. As the second phase of virtual-asset legislation, the bill—known as the Digital Asset Basic Act—was initially slated to be drafted by year-end, with passage to follow in early 2026. However, the timeline has been pushed back due to disagreements among government agencies. The primary point of contention is reportedly whether issuance rights should be restricted exclusively to consortiums in which banks hold a majority stake of more than 51%.