South Korean Lawmaker Min Byung-duk: Aiming to Complete Digital Asset Basic Act in Early January Next Year

November 13 — According to South Korean outlet EToday, Democratic Party lawmaker Min Byung-duk said at a discussion session on the 13th that legislation of the Digital Asset Basic Act should be completed before January 9 next year, so as to keep pace with the U.S. stablecoin regime taking effect on January 18. He opposes allowing only consortia in which banks hold a majority stake to issue won-denominated stablecoins, arguing that any entity meeting conditions such as 100% reserves and instant redemption should be able to participate; he also proposed establishing a presidential digital asset committee, extending the crypto tax again to 2029, and allowing loss carryforwards for three years.