South Korea is currently quickly tracking its own crypto regulations

South Korea’s ruling Democrats will quickly track new Bitcoin and crypto regulations. This decision follows the US adoption of the genius law, which sets a clear framework for monitoring digital assets. South Korean lawmakers say they want them to line up with the major economy.

On July 22, Bitcoin Archives reported that the ruling party would prioritize legal updates covering Bitcoin, Stubcoin and crypto exchanges. The senior party member said,

“Delay is not an option.”

Pushing includes setting up platform liability and preventing fraud.

Legislative push focuses on setting clear liability for crypto platforms and preventing fraud, with the aim of addressing legal system gaps and increasing market transparency.

Korea’s Stubcoin Plan focuses on South Korea’s victory

As the government moves towards clearer rules, South Korea’s investments and securities are now developing the ridiculous thing backed by South Korea’s victory. The company does not share a timeline for releases, but said the tokens aim to improve payments and transfers within the country.

Related: Korea Greenlight has expanded crypto access for professional investors

Winning Stablecoin supports daily use, including quick payments and financial settlements. South Korea’s investments and securities said the digital currency will be fully secured by its winning reserves.

What the new regulations cover

The proposed Bitcoin Act includes certain rules regarding taxation and investor protection. Lawmakers are working on a framework to regulate stubcoins and exchanges. The Financial Services Commission will oversee the new legal structure.

Rules set requirements for how the platform manages and reports customer assets. You may also define categories of digital assets, such as payment tokens and asset support tokens.

The Korean approach is influenced by international models, including the European Union’s MICA law and the genius law.

Cryptocurrency rises in Korea

Over 25% of Koreans were digital assets between the ages of 20 and 50. Of these, 70% plan to increase their investment. This rising usage has led lawmakers to establish stronger regulations.

Officials noted that Crypto is currently playing a role in savings and long-term planning. Previously, it was limited to tech-savvy traders, so usage has expanded across income levels and age groups.

This shift added urgency to promote modern legal protections in the digital asset space.

The Genius Act sets legal expectations for US digital asset companies. Covers reporting obligations, reserve disclosures and user protection measures. South Korean lawmakers referenced the law while outlined their own laws.

Authorities have confirmed that they will not copy US laws, but will adopt core standards from global regulations. These include operational and protection transparency for both retail and institutional users.