South Korea's ruling party establishes digital asset task force to draft stablecoin and cryptocurrency legislation

ChainCatcher News, according to Decrypt, South Korea's ruling Democratic Party has established a digital asset task force to draft comprehensive stablecoin and cryptocurrency legislation.

The goal of this task force is to enact a digital asset law during this year's regular session and the year-end National Assembly meeting. The country is facing increasing capital outflow pressure, with 40.6 billions USD in digital assets transferred abroad in the first quarter of 2025, half of which are stablecoins.