South Korea’s government is seeking to bring digital assets under existing finance rules, including classifying stablecoins as foreign exchange instruments and requiring tokenized real-world assets (RWAs) to be backed by assets held in trust, according to a draft bill seen by local outlet the Seoul Economic Daily.

Last week, the Seoul Economic Daily reported that it had obtained a draft of the long-awaited “Digital Asset Basic Act,” produced by South Korea’s ruling Democratic Party’s…