South Korea’s newly elected President Lee Jae-myung is swiftly fulfilling his campaign promise to permit local firms to issue stablecoins, a move poised to invigorate the nation’s thriving digital asset market. Lee, a progressive leader, has actively advocated for stablecoin adoption.
His Democratic Party has already introduced the Digital Asset Basic Act. This proposed legislation aims to enhance transparency and foster competition within the cryptocurrency sector. The Act is expected to pave the way for a more regulated and accessible stablecoin market, potentially attracting further investment and innovation to South Korea’s digital economy. This initiative signals a significant shift towards embracing digital assets under President Lee’s leadership.
