Democratic Party in South Korea Sets Up Crypto Task Force Focused on Stablecoin Laws

Highlights:

• South Korea has set up a crypto task force to involve regulators and the private sector in shaping policy.
• South Korea’s Democratic Party plans to pass stablecoin and crypto laws before the year ends.
• The Bank of Korea has called for a gradual stablecoin rollout while lawmakers push for faster innovation.

South Korea’s Democratic Party has unveiled a dedicated task force to craft new cryptocurrency and blockchain policies. The announcement took place at the National Assembly on September 24, where leaders emphasized their commitment to fast-tracking pro-business legislation. Lawmakers said they intend to roll out stablecoin-related bills and token issuance guidelines before the end of the year.

South Korea's Democratic Party launched a new crypto policy task force to foster growth in the blockchain sector. The task force aims to pass pro-business legislation, focusing initially on stablecoin regulation, moving beyond current user protection laws.

— Yeti Fi (@YetiFAi) September 25, 2025

Representative Lee Jeong-moon will direct the group’s activities, while Min Byoung-dug, head of the party’s Digital Asset Committee, will play a leading role. Both lawmakers have consistently called for industry support, especially around stablecoins, which they see as central to future growth. The party confirmed that its agenda moves away from older frameworks that mainly targeted exchange operators and consumer safeguards.

At the event, Han Jeong-ae, chair of the policy committee, explained that the country needs a system that reflects rapid changes in the financial sector. She emphasized sustainable innovation and highlighted the contribution of digital assets in transforming markets. Han also pointed out that removing a ban on venture capital in crypto companies may revive the local sector.

Her remarks were an extension of a wider initiative to establish conditions where businesses can flourish and yet remain with clear standards. The move by the party denotes urgency, with the members wishing to accomplish legislative tasks in the last session of the year in the National Assembly.

South Korea Sets Up Crypto Task Force to Involve Regulators and Industry Stakeholders

The Democratic Party’s task force will not work in isolation. Lawmakers have already reached out to government ministries and top financial bodies, including the Financial Services Commission and the Financial Supervisory Service. They asked these institutions to submit proposals that could be integrated into upcoming bills. The Bank of Korea has been approached to contribute to stablecoin regulation and other wider policy matters.

The task force intends to involve the private sector in the development of the new framework in addition to state agencies. The leaders plan to hold meetings with domestic crypto exchanges, fintech startups, and venture capital companies. The team will also have an advisory panel of experts to offer specialized knowledge and practical insights.

Han Jeong-ae said the initiative reflects the government’s recent openness, pointing to the removal of restrictions on venture funding for crypto firms. She explained that dialogue with stakeholders would continue as the task force refines its plans.

Bank of Korea Urges Gradual Stablecoin Rollout as Lawmakers Push for Faster Innovation

The Bank of Korea has taken a cautious approach, even as lawmakers push for rapid changes. Deputy Governor Kim Woong-seok stated earlier this month that banks should introduce stablecoins gradually. He argued that a phased rollout would help preserve financial stability and limit systemic risks.

Korea is opening the door to won-pegged stablecoins!

The Bank of Korea has confirmed that stablecoins are not off the table. The plan is a gradual introduction, starting with regulated players and expanding over time.

This is exactly the momentum the market needs with clear… pic.twitter.com/QNQuAyf0yj

— ELYSIA (@ELYSIA_HQ) September 1, 2025

The central bank has already created a unit to oversee digital assets and coordinate with other agencies. Analysts said the party’s drive for swift innovation could conflict with the bank’s measured stance. The coming months may show whether policymakers can align their priorities and balance growth with stability.