South Korea's ruling party has proposed a draft of the 'Basic Act on Digital Assets,' aiming to establish a systematic legal framework covering issuance, trading, custody, and regulation. The proposal includes bringing stablecoins and other 'value-pegged assets' tied to fiat currencies or real-world assets under regulatory oversight. Issuers will be required to obtain licenses, fulfill reserve and redemption obligations, and meet conditions related to capital and operational capabilities. The draft also plans to implement licensing, registration, and reporting requirements for businesses involved in trading, brokerage, custody, and consulting, while strengthening information disclosure, internal controls, and market conduct standards. Additionally, a Digital Asset Committee will be set up to coordinate policy efforts. (CoinDesk) https://(wublock123.com)/news/south-korea-digital-asset-act-stablecoin-licensing-reserve-rules-59291