UAESouth Korea Digital Asset Basic Act legislative discussion
⚠ The date is not confirmed yet and may change.
South Korea's Digital Asset Basic Act, which would set rules for won-denominated stablecoins and other digital asset activity, is expected to reach legislative discussion in November 2026. The exact day within the month has not been fixed, and the timing is tentative.
What is happening
The Digital Asset Basic Act is being drafted by lawmakers and the government. According to Cryptopolitan, as cited in the source coverage, the bill is in the final stage of government review and is headed for legislative discussion in November 2026. The date is not confirmed, and schedules for bills at this stage can shift.
The bill is meant to provide the legal basis that currently does not exist for the commercial issuance and trading of won-pegged stablecoins. Seoul has no clear framework for these assets, so any commercial rollout depends on how lawmakers write the rules.
The bill came into focus after Chainlink and LG CNS, the IT services arm of LG Group, announced a partnership on Oct. 22, 2026. LG CNS plans to integrate Chainlink's cross-chain, data and orchestration tools into its Digital Asset Platform Solution for banks, securities firms, card issuers and payment providers. The companies said they will also cooperate on technical standards and on the development of Korea's digital asset rulebook. No financial terms, named customers or launch date were disclosed.
Why it matters
Until the Digital Asset Basic Act takes effect, won stablecoin issuance and trading remain without an explicit legal foundation. Infrastructure projects aimed at Korean financial institutions, including the one described by Chainlink and LG CNS, depend on that framework for any commercial deployment. The content of the bill therefore matters to banks, issuers and technology providers building for the Korean market.
For holders and traders, the legislative discussion is a regulatory milestone rather than a confirmed change in the rules. Entering discussion does not mean the bill has passed, and details such as scope, requirements for issuers and timelines may change during review. Market participants may want to track official announcements from the government and legislature, any published draft text, and whether the schedule slips beyond November.
Key details
- Date: November 2026 (month precision; exact day not set, tentative)
- Project: Government of South Korea
- Coins: none specified
- Category: Regulatory Deadline
- Status: Tentative
- Source: https://finance.biggo.com/news/7eddf490-c2b4-4669-ad4c-c9d58b6c892c