Han Jeong-ae, DPK policy chief: "Pushing framework act covering limits on exchange ownership stakes and a bank-led stablecoin model"

The Democratic Party of Korea (DPK) is reportedly planning to introduce within this month a Framework Act on Digital Assets that would include restrictions on controlling shareholders’ stakes in crypto exchanges and a bank-led issuance structure for won-denominated stablecoins.

According to industry sources on the 10th, Han Jeong-ae, the DPK’s chair of the policy committee, said after attending a National Assembly forum titled “Future Water Management Measures in an AI-Transforming Era” that the party plans to incorporate exchange ownership-stake limits and a bank-centered stablecoin structure into the Framework Act on Digital Assets. She said the decision followed a comprehensive review of the government’s existing proposal and a judgment that it is sound from a policy perspective.

The bill is expected to include a plan to cap controlling shareholders’ stakes in crypto exchanges at around 15–20%, as well as provisions to form a won stablecoin consortium centered on banks. The legislation could be submitted to the National Assembly as early as later this month.

Previously, the DPK’s Digital Assets Task Force (TF) submitted a party-line bill that excluded the two issues, but the policy committee is said to have placed greater weight on the government’s earlier proposal. Han added that the goal is to introduce the Framework Act on Digital Assets within February.

While concerns have been raised by some opposition lawmakers, Han said, “There are some opposing views, but they are not significant,” adding that she does not expect major difficulties in pushing the legislation forward.

Han also voiced broader concerns at a party leadership meeting earlier that morning about the overall structure of crypto trading. Citing recent cases of system errors during crypto transactions, she said they are “matters that could undermine trust in the crypto market.” She went on to stress the need to “strengthen the institutional foundation of trust through fit-and-proper reviews of controlling shareholders and the dispersion of governance structures.”

The DPK plans to fine-tune the details of the bill by gathering industry input during the National Assembly’s deliberations.