Multiple South Korean outlets report that the country’s second-stage virtual asset legislation, often described as a comprehensive “Digital Asset Basic Act,” is moving slower than previously expected due to unresolved disagreements, including stablecoin-related provisions.
Korean business reporting describes the phase-2 bill as a broad market rulebook covering areas such as digital asset issuance and disclosures, and potentially tighter guardrails around listing and delisting practices beyond exchange self-regulation.
The delay has also pushed lawmakers to consider driving the process through party-led drafts while government coordination continues, according to reporting that frames the bottleneck as a conflict over regulatory authority and market design choices.
Korea policy headlines can travel fast and shape short-term sentiment, especially around domestic exchanges where listing expectations, market access, and risk controls are highly narrative-driven.
A phase-2 delay can also prolong uncertainty around follow-on topics that market participants often bundle with “next stage” regulation, such as the conditions for broader institutional participation and whether market structure changes could affect how venues manage listings, custody, and compliance.
The most frequently cited friction point is how a Korean won-linked stablecoin regime should be designed and who should be allowed to issue.
Reporting highlights a split between a bank-led issuance preference, argued on the grounds of monetary trust and financial stability, and an authorization model that could allow licensed non-bank issuers under regulatory approval.
Several reports frame the delay as more than technical drafting. They describe a deeper disagreement over who holds which oversight powers and how the market should be structured, including the role of financial regulators versus other institutions that view stablecoins through a payments and monetary lens.
The Financial Services Commission has also publicly cautioned that key contents of the phase-2 law are not finalized, responding to earlier press claims about what the government draft would include and urging care in reporting specifics.
That kind of official positioning tends to slow rumor-driven certainty while signaling that inter-agency negotiation is still in progress.
The most useful signal tends to be primary Korean-language coverage that cites concrete legislative steps and direct government remarks, rather than secondary summaries.
Near-term watchpoints likely include whether lawmakers converge on a unified draft, and whether stablecoin language shifts toward bank-only issuance, a licensing framework for non-banks, or a hybrid structure.
It also matters whether timelines get reframed. A Korea JoongAng Daily interview format piece described expectations for passage ranging from the first quarter to the second quarter, depending on political priorities and adjacent law revisions.
Korea’s phase-2 virtual asset legislation is being reported as delayed, with stablecoin provisions and regulatory authority questions emerging as the main sources of friction. Until the stablecoin regime and oversight split are clarified in primary reporting and official statements, domestic exchange sentiment and listing expectations are likely to stay sensitive to each new headline.
The post Korea’s Phase-2 Digital Asset Bill Slows Amid Stablecoin Clause Friction appeared first on Crypto Adventure.
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