Cryptocurrency Committee Formed in South Korea
On May 13, 2025, the Toburo Democratic Party, one of the two leading political forces in South Korea, officially launched the Digital Assets Committee, which will be tasked with developing a strategy for regulating digital currencies, including CBDC (central bank digital money) and cryptocurrencies, as well as creating a favorable legal environment for the industry.
The first meeting was held in Seoul, which signaled the start of systematic work on legislative changes in the field of digital assets.
Currently, South Korea’s current regulations limit the potential of the crypto industry. In particular, the “One Exchange, One Bank” rule makes it difficult for crypto platforms to access banking services. The unclear legal environment forces investors and companies to move abroad, where conditions are more stable and transparent.
The new body will work on developing clear regulations for the circulation of crypto assets, consider the possibility of introducing a stablecoin based on the Korean won, cancel or modify the “One exchange - one bank” rule to facilitate interaction with the financial sector. In addition, the committee's tasks include supporting innovation and attracting institutional investors.
Earlier, a group of South Korea's largest financial institutions proposed allowing bankers to enter into cooperation agreements with cryptocurrency platforms.
