South Korean lawmakers have delayed the submission of a key cryptocurrency bill as disagreements persist over how domestic stablecoins should be regulated.
The proposed Digital Asset Basic Act is now expected to be submitted sometime in 2026, according to local media reports citing government officials.
Officials said unresolved issues remain around stablecoin issuer oversight, which has slowed progress despite earlier political backing.
The bill was introduced in June by the ruling Democratic Party and aimed to allow the issuance of won-pegged stablecoins in South Korea.
Lawmakers initially framed the legislation as a way to strengthen the country’s crypto sector and improve its competitiveness in digital finance.
Under the draft proposal, stablecoin issuers would be required to place all reserve assets with authorised custodians such as domestic banks.
Regulators and industry groups remain divided on whether a separate body should be created to supervise stablecoin issuers before approval is granted.
The Financial Services Commission is reviewing the bill while weighing limits on the role of traditional financial institutions in stablecoin operations.