South Korea’s Financial Services Commission (FSC) is planning to draft a consolidated Digital Asset Basic Act with the ruling Democratic Party, which would cover stablecoins and digital asset exchanges, while opposition lawmakers seek to repeal the 22% digital currency tax due in 2027.

According to the FSC, the proposal would include stablecoin issuance and circulation, digital asset business rules, exchange entry requirements, disclosures, internal controls, and system-resilience…