South Korea’s New President Moves To Legalize Stablecoins Through Crypto Bill

South Korea’s newly elected President, Lee Jae-myung, has proposed the Digital Asset Basic Act. The crypto bill allows local companies to issue stablecoins. Lee – known as a progressive leader who defeated a conservative opponent – is moving quickly to deliver on promises made during his election campaigns. Lee also advocated for legalising spot crypto.. The post South Korea’s New President Moves To Legalize Stablecoins Through Crypto Bill appeared first on 99Bitcoins.

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Jun 10, 2025 - 21:00

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South Korea’s newly elected President, Lee Jae-myung, has proposed the Digital Asset Basic Act. The crypto bill allows local companies to issue stablecoins.

Lee – known as a progressive leader who defeated a conservative opponent – is moving quickly to deliver on promises made during his election campaigns. Lee also advocated for legalising spot crypto exchange-traded funds (ETFs). Notably, when it comes to crypto, both presidential candidates, liberal Lee and conservative Kim Moon-soo, had gone full pro-crypto with their election policies.

“Today, I would like to present a significant turning point for the future of digital finance in the Republic of Korea and to represent the basic law on digital assets,” said lawmaker Min Byeong-deok, introducing the bill, in a 10 June 2025 press conference.

“Digital assets are no longer an experimental means,” he said. “Blockchain and artificial intelligence technology are already a key link between the global capital market and the established real economy infrastructure.”