South Korea’s Democratic Party (DP) has formed a new task force to write pro-business cryptocurrency and blockchain rules, promising to fast-track legislation before the end of 2025.
Party leaders unveiled the plan at the National Assembly on 24 September, calling digital assets “a new paradigm for the financial markets” and pledging to treat the sector as a driver of future growth.
The task force’s first job will be to draft stablecoin regulations and finalise rules on token issuance and distribution before the year closes.
Han Jeong-ae, chair of the DP’s policy committee, said,
“We need to establish a system that keeps pace with evolving trends in the new financial market. We are looking forward to stable and sustainable institutional innovation.”
Lawmaker Lee Jeong-moon, who will head the group, added that policies must “foster future growth.”
Current South Korean crypto laws focus on exchange oversight and protecting users from fraud or hacking.
The DP says it wants to move away from that narrow approach and instead “streamline the system to foster industries,” a position welcomed by local crypto companies hoping for lighter restrictions and clearer rules to attract investors.
The task force has already invited the Financial Services Commission, the Financial Supervisory Service and key ministries to submit policy proposals.
It has also asked the Bank of Korea to share its views.
Deputy Governor Kim Woong-seok recently cautioned that only regulated banks should issue stablecoins “gradually” to safeguard financial stability, signalling that central bank officials may prefer a slower rollout than lawmakers.
Plans include an advisory group of crypto exchanges, fintech firms, venture capital representatives and independent experts to guide legislation.
Han welcomed the government’s recent decision to lift the ban on venture capital funding for crypto startups, saying it would “help revitalise the industry” and ensure that new rules reflect a broad range of opinions.
Han Jeong-ae is a South Korean politician and a member of the National Assembly, currently serving as the chair of the policy committee for the Democratic Party of Korea (DP).
Lawmaker Ahn Do-geol stressed that Korea risks “falling a long way behind” in digital finance if innovation stalls, warning that the country could miss opportunities in stablecoins and other digital assets.
He noted that lawmakers across party lines have already reached “a consensus” on many crypto-related issues, including the need for stablecoin regulation.
South Korea is one of the world’s busiest cryptocurrency hubs, with millions of retail investors trading daily.
Supporters of the DP plan say that passing new rules by year-end would help domestic firms compete with dollar-backed tokens and strengthen Korea’s position in the global digital economy.
Gemini has agreed in principle to settle its legal fight with the US SEC over its Gemini Earn lending programme. The deal comes soon after Gemini’s $425 million stock market debut, giving the exchange a chance to close the case and move forward.
WeatherlyCollector Crypt’s CARDS token, which links digital Pokemon cards to real ones, has surged 2,400% in just over two weeks. The platform’s popularity comes from gamified pack openings, instant buybacks, and global trading, sparking renewed interest in tokenised trading cards.
WeatherlyIsrael has seized 137 cryptocurrency wallets linked to Iran’s Revolutionary Guards, holding an estimated $1.5 billion in USDT. Authorities froze part of the funds using Tether’s blacklisting feature, but most remain active, showing the limits of controlling crypto transactions.
AnaisThe Trump family’s American Bitcoin Corp started trading on Nasdaq, raising $2.1 billion and holding 2,443 Bitcoins to offer investors regulated crypto exposure. This comes as Donald Trump’s administration eases crypto regulations, boosting family-held digital assets worth over $5 billion.
WeatherlyA new South Korean drama "To The Moon", follows three women investing in crypto during the 2017–2018 Bitcoin boom. It highlights the country’s $3.15 billion daily retail crypto market and growing regulatory oversight.
JoyBitwise has asked US regulators to approve an exchange-traded fund that invests in both stablecoin companies and crypto assets. The plan follows a surge in stablecoin supply and tokenised assets this year, aiming for a launch before the end of 2025 if the SEC agrees.
AnaisSui has partnered with Google to allow AI agents to make stablecoin payments automatically using its blockchain. The news boosted SUI’s price and trading, while the network also released developer tools and may see further growth from a planned SUI-based ETF.
WeatherlyA TaskUs employee allegedly stole and sold Coinbase customer data, affecting at least 69,000 users and causing losses of up to $400 million. The scheme involved insider co-workers and hackers, with TaskUs accused of covering up the breach while Coinbase reimbursed affected customers and tightened security.
WeatherlyThumzup Media bought $2 million in Dogecoin and plans to acquire a mining firm with 3,500 rigs. It also raised $50 million and added Dogecoin insiders to its advisory board.
AnaisBitGo received approval from Germany’s regulator BaFin to expand its crypto services in Europe. The company can now offer regulated trading, custody, transfer, and staking to institutional clients.
Weatherly