South Korea's Digital Asset Law to Include Investor Protections

According to BlockBeats, the South Korean government is working on the Basic Law on Digital Assets, which is the second phase of virtual asset legislation. This law aims to include investor protection measures such as no-fault liability for digital asset operators and bankruptcy risk isolation for stablecoin issuers. The legislation mandates that stablecoin issuers deposit reserve assets with banks or similar management institutions and maintain a deposit or trust exceeding 100% of the issuance balance. However, the submission of the government proposal has been delayed until next year due to disagreements between the Financial Services Commission and the Bank of Korea over key issues like the issuer of stablecoins and the establishment of regulatory bodies. The Financial Services Commission stated that it is currently working with relevant institutions to gradually narrow these differences.