A policy report published by Hashed Open Research and the Solana Policy Institute recommends that South Korea allow greater flexibility for stablecoin issuers, provide interim licensing guidance and phase in stablecoin regulation before completing its Digital Asset Basic Act. This legislation would establish the country’s first comprehensive digital asset framework, covering stablecoins, issuance, disclosures and market rules. However, lawmakers have yet to reconcile multiple bills, with disagreements over stablecoin issuance delaying the legislation. Kim Hyobong, a partner at Bae, Kim & Lee, urged South Korea to follow the European Union’s phased rollout approach to stablecoin regulation.
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