South Korea's ruling party has proposed a "Basic Law on Digital Assets," aiming to establish a comprehensive legal framework covering issuance, trading, custody, and regulation. The bill classifies stablecoins and other digital assets pegged to fiat currency or real-world assets as a special category, requiring issuers to obtain licenses and meet requirements regarding capital, reserves, and redemption. Simultaneously, the bill proposes introducing a licensing and information disclosure system, explicitly prohibiting market manipulation and insider trading, and plans to establish a Digital Assets Commission to coordinate oversight. (CoinDesk)