Rep. Min Byung-dug of the Democratic Party (at podium) speaks during a press conference at the National Assembly on June 10, 2025. (Image courtersy of Yonhap)
SEOUL, June 10 (Korea Bizwire) — A lawmaker of the ruling Democratic Party (DP) on Tuesday introduced a bill allowing companies to issue stablecoins pegged to the South Korean currency, in what would be another boost for the cryptocurrency market.
Rep. Min Byung-dug of the DP said the bill also seeks to establish a digital asset committee directly under the president to oversee related policies.
“Major economies like the U.S., EU and Japan are taking the lead in institutionalizing digital assets through comprehensive regulation,” Min told reporters at the National Assembly. “In contrast, Korea still lacks a systematic and unified legal framework.”
Min noted that the digital asset market has grown nearly threefold in five years to approximately 3,300 trillion won ($2.5 trillion) as of June.
He added that President Lee Jae-myung also actively supports fostering the digital asset industry. Throughout his presidential campaign, Lee has stressed that South Korea must build a won-based stablecoin market.
(Yonhap)
