The South Korean government may postpone the submission of the "Digital Asset Basic Act" until next year, with plans to include provisions such as no-fault compensation and other items.

According to Mars Finance, South Korea’s Financial Services Commission is drafting the “Basic Law on Digital Assets” (Virtual Asset Phase Two Bill), with some details already disclosed. The draft is expected to include multiple investor protection measures, such as requiring stablecoin issuers to invest reserves in deposits, government bonds, and other assets, and to deposit over 100% of the issuance balance with banks or other management institutions to isolate bankruptcy risks. The bill may also stipulate that, in the event of hacking attacks or system failures, digital asset operators must bear no-fault damages liability, and their disclosure obligations, terms, and advertising regulations will align with financial industry standards. Additionally, the bill might permit the domestic sale of digital assets under full information disclosure, aiming to improve the current situation where domestic ICOs are banned, and projects bypass overseas issuance and then flow back into the country. However, the bill’s submission may be delayed until next year due to key disputes. Major disagreements include: whether only banks holding more than half of the shares should be allowed to issue stablecoins, with the Financial Services Commission believing that legal mandates on bank shareholding ratios are inappropriate; and disagreements over whether a new cross-agency consensus committee needs to be established. Furthermore, issues such as initial capital requirements for stablecoin issuers and whether exchange issuance and circulation functions should be separated are still under discussion. Due to the delay in government bill submission, the ruling party’s Digital Asset Working Group is reportedly preparing an independent bill based on existing legislator proposals.