Assembly – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 18 Aug 2025 20:43:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Assembly – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Won-Pegged Stablecoin Rules Set to Hit South Korea’s Assembly in October https://earlybirdsinvest.com/won-pegged-stablecoin-rules-set-to-hit-south-koreas-assembly-in-october/ https://earlybirdsinvest.com/won-pegged-stablecoin-rules-set-to-hit-south-koreas-assembly-in-october/#respond Mon, 18 Aug 2025 20:43:15 +0000 https://earlybirdsinvest.com/won-pegged-stablecoin-rules-set-to-hit-south-koreas-assembly-in-october/

South Korea’s Financial Services Commission (FSC) is preparing a bill that would set rules for stablecoins tied to the national currency.

The measure is expected to be introduced to the National Assembly in October as part of the second stage of the Virtual Asset User Protection Act, according to local outlet MoneyToday.

The FSC has been working on this framework since 2023 through its virtual asset committee.

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The bill will likely set requirements for stablecoin issuance, how collateral must be managed, and what systems providers should have in place to monitor operations.

Democratic Party representative Park Min-kyu said he had received a briefing on the direction of the plan. He said:

The government bill is expected to be submitted to the National Assembly around October.

Support for a won-backed stablecoin has been building. President Lee Jae-myung promoted the idea during his campaign, and several lawmakers have already filed related proposals.

These include the Digital Asset Basic Act from Representative Min Byung-deok, the Act on the Issuance and Circulation of Value-Stable Digital Assets from Representative Ahn Do-gul, and the Act on Payment Innovation Using Value-Pegged Digital Assets from Representative Kim Eun-hye.

Alongside the legislative process, enforcement actions are taking place. On August 18, Jeju City tax officials began freezing and seizing cryptocurrency from residents suspected of avoiding tax obligations. How? Read the full story.

]]> https://earlybirdsinvest.com/won-pegged-stablecoin-rules-set-to-hit-south-koreas-assembly-in-october/feed/ 0 53878 California Advances Assembly Bill 1180 to Allow Crypto at the Cashier https://earlybirdsinvest.com/california-advances-assembly-bill-1180-to-allow-crypto-at-the-cashier/ https://earlybirdsinvest.com/california-advances-assembly-bill-1180-to-allow-crypto-at-the-cashier/#respond Thu, 05 Jun 2025 00:11:46 +0000 https://earlybirdsinvest.com/california-advances-assembly-bill-1180-to-allow-crypto-at-the-cashier/

California may allow state departments to accept cryptocurrency for certain payments.

A new bill, Assembly Bill 1180 (AB 1180), has passed the State Assembly with full support, 68 votes in favor, none against, and advances to the Senate for review.

The bill would require the Department of Financial Protection and Innovation (DFPI) to create rules that let people use crypto to pay fees and other charges under the state’s Digital Financial Assets Law.

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This law already sets the basic framework for how digital assets are handled in California, and the DFPI is in charge of making sure financial services operate fairly and safely.

If the Senate also approves AB 1180 and Governor Gavin Newsom signs it, the new rules would take effect starting July 1, 2026. A pilot program would be rolled out and tested through January 1, 2031, according to Democratic Assembly member Avelino Valencia, the bill’s sponsor.

During this time, the DFPI would monitor how the system works and report back with updates and any problems they encounter. That report is expected by January 1, 2028, and would include transaction data and any technical or legal issues.

Only those licensed by the DFPI would be allowed to process crypto transactions within this system.

On June 2, crypto industry groups urged US lawmakers to pass the stablecoin bill, the GENIUS Act, without unrelated add-ons. What did they say? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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