[South Korea's Ruling Party Finalizes the 'Basic Act on Digital Assets,' Minimum Capital for Stablecoin Issuers Set at Approximately $3.5 Million] According to South Korean media reports, the ruling Democratic Party of Korea has finalized the name of its bill aimed at regulating the virtual asset market as the 'Basic Act on Digital Assets' and plans to submit it before the Lunar New Year holiday. They have also agreed to set the minimum statutory capital requirement for stablecoin issuers at 5 billion Korean won (approximately $3.5 million). However, sensitive issues such as the scope of authority for the Bank of Korea and restrictions on major shareholders' holdings will be finalized after further coordination with the Policy Committee.