Lee Jae-myung administration accelerates introduction of spot digital asset ETFs and token securities

Announcement of Five-Year National Policy Plan

Promotion of Stablecoin Regulation, Spot ETFs, and Token Securities

Strengthening industry competitiveness through Basic Blockchain Law and Innovation Roadmap

The Lee Jae-myung administration is speeding up the institutionalization of digital assets and nurturing the blockchain industry. Plans are underway to push for institutionalization of spot digital asset ETFs and token securities (STOs), establish a stablecoin regulatory framework, and enact a basic blockchain law.

On the 20th, the Prime Minister's Office announced the 'Five-Year National Policy Plan' and stated that policy capabilities would be concentrated on creating a healthy market foundation and strengthening competitiveness in the blockchain field to build a digital asset ecosystem.

First, the government will enhance market transparency by preparing regulations for digital asset listing, disclosure, and business conduct by operator. In particular, for the issuance and circulation of stablecoins, the regulatory framework will be rapidly established considering user protection, global compatibility, and possible impacts on monetary and foreign exchange policy.

The introduction of spot ETFs will also be actively promoted. The Financial Services Commission plans to design a system that addresses risks stemming from the linkage between financial and digital asset markets, real economic ripple effects, and investor benefits. In addition, a regulatory system will be established for the issuance and circulation of token securities that enable account management based on distributed ledger and the use of smart contracts.

Support measures for the blockchain industry are also included. The government will formulate the 'Blockhain Industry Competitiveness Strengthening Plan (Innovation Roadmap),' and prepare a 'Basic Blockchain Law' to underpin ecosystem growth. It will create an environment where digital asset innovation services can be freely tested and increase the effectiveness of blockchain special zones through local infrastructure expansion.

Through this plan, the government expects to guide the stable growth of the digital asset and blockchain industry and proactively respond to the trend of currency digitalization. In particular, it projects improved investor convenience in payment and settlement, such as remittances.