South Korea to draft digital asset law and seek rules for won stablecoins and spot ETFs

Digital asset law planned this year

The Ministry of Economy and Finance said on July 14, as part of its 2026 economic growth strategy, that it will draft a Basic Digital Asset Act this year. The measure was described as the second phase of legislation for the sector and part of a wider effort to foster the digital-asset industry through institutional changes.

According to the government’s plan, the proposed act would break the digital-asset industry into more detailed categories and overhaul the regulatory framework governing business activity. A central element is the creation of a legal foundation for stablecoins denominated in won.

Stablecoins and cross-border oversight

Alongside the planned legislation, officials are reviewing how cross-border stablecoin transactions could be brought into a formal regulatory structure. That review is tied to a wider legal update that may include changes to the Foreign Exchange Transactions Act.

The announcement indicates that the government is not only focusing on domestic issuance and use of won-based stablecoins, but also on how such instruments may interact with cross-border payments and foreign-exchange rules.

Path sought for spot crypto ETFs

The government also said it will seek revisions to the Capital Markets Act to allow spot ETFs for digital assets such as Bitcoin. While the announcement did not provide a timetable for those revisions beyond the broader policy push, it placed ETF reform alongside the stablecoin and digital-asset law agenda.

If pursued, those legal changes would mark a significant adjustment to the current framework by opening the door to spot products linked directly to digital assets.

Blockchain pilots and tokenized bonds

Beyond market rules, the 2026 strategy includes a wider set of blockchain-related initiatives. The government said it plans to expand pilot projects intended to strengthen the competitiveness of the blockchain industry.

In finance, it will launch a pilot next year for tokenized government bonds connected to the Bank of Korea’s wholesale central bank digital currency program. Authorities also said they will examine ways to secure interoperability between CBDC infrastructure and other blockchain networks.

Carbon markets and state assets

The strategy also extends to public-sector asset management and carbon markets. South Korea plans to work with international organizations to issue carbon credits that meet Global Voluntary Carbon Market standards and to build a blockchain-based system for managing and trading those credits.

In addition, the government said it aims to enact a Basic Law on State Assets so that new forms of assets, including virtual assets, can be reflected in the national asset management system.

Taken together, the measures show South Korea trying to move beyond piecemeal oversight toward a broader legal structure for digital assets, while linking that effort to finance, public-sector systems and blockchain industry development. The government has outlined the direction in its growth strategy, but the specific form and timing of the legal revisions will depend on the drafting and review process.