Democrats advance Virtual Asset Phase 2 bill: ₩5B stablecoin capital, 15%–20% cap

The Democratic Party of Korea plans to table the Virtual Asset Phase 2 Act before the Lunar New Year, focusing on stablecoin oversight and ownership limits for crypto exchanges. The package highlights a ~$3.46 million (5B won) capital floor for issuers as debates continue over a 15%–20% shareholder cap and whether banks or tech firms should issue KRW-pegged tokens.