South Korea's ruling party finalizes the "Digital Asset Basic Law," with stablecoin issuers required to have a minimum capital of approximately $3.5 million.

Mars Finance News: According to South Korean media reports, the ruling Democratic Party of Korea has finalized the bill aimed at regulating the virtual asset market, titled the “Digital Asset Basic Act,” and plans to submit it before the New Year holiday. They also agreed to set the minimum statutory capital requirement for stablecoin issuers at 5 billion Korean Won (approximately 3.5 million USD). However, sensitive issues such as the scope of the Bank of Korea’s authority and restrictions on major shareholders’ holdings will be finalized after further coordination with the Policy Committee.