Korean lawmakers promote three laws on digital assets to promote stablecoin innovation in payment systems.

On July 18, South Korean National Assembly member Min Byeong-deok stated that stablecoins are becoming a key tool for driving the practicality of digital assets and innovating payment systems. He pointed out that the trading volume of stablecoins in the United States and South America has exceeded that of Visa cards, changing the global financial payment landscape. He is actively promoting the "Three Digital Asset Laws," including the "Basic Law on Digital Assets," "Security Token Offering (STO) Law," and "Digital Asset ETF Law," which are expected to be passed within this year. Min Byeong-deok emphasized that institutionalization should take precedence over regulation, and it is essential to ensure the autonomy and convenience of innovative entities, providing a stable environment for young entrepreneurs, helping South Korea transform from a "follower" nation to a "leader" nation, and gaining a competitive edge in the field of digital financial innovation.