The South Korean government held its first Stablecoin Regulation Forum today, aiming to promote the legislation of the Basic Digital Asset Law within the year.

BlockBeats News, July 21st - According to South Korean media, the South Korean government will hold its first government-led stablecoin forum today. The forum will be hosted by Deputy Prime Minister for the Economy, Yoo Myung-hee, focusing on discussions around the legislation of the "Digital Asset Basic Law" and the establishment of a stablecoin system. Following the official implementation of the U.S. "GENIUS Act" in January 2027, the South Korean government and the ruling party are pushing for the completion of the "Digital Asset Basic Law" within this year to establish a legal framework for the issuance, circulation, and regulation of stablecoins.

The South Korean Financial Services Commission, the ruling party, and the industry will participate in the discussions, covering topics such as AI Agent payments, the Korean Won stablecoin, and Anti-Money Laundering (AML) regulations. The ruling party has previously stated that they plan to propose a unified bill in September and strive to complete the legislation within the year.