The GENIUS Act Effect: South Korea Is Now Fast-Tracking Its Own Crypto Regulations

South Korea’s ruling party will fast-track crypto laws in response to the U.S. GENIUS Act. Korea Investment and Securities is developing a won-backed stablecoin for local payments. Over 25% of South Koreans aged 20–50 own crypto, pushing lawmakers to define investor protection and tax rules. South Korea’s ruling Democratic Party plans to fast-track new Bitcoin and crypto regulations. The decision follows the United States’ adoption of the GENIUS Act, which set a clear framework for digital asset oversight. South Korean lawmakers say they want to stay aligned with major economies. On July 22, Bitcoin Archive reported that the ruling party will prioritize legal updates covering Bitcoin, stablecoins, and crypto exchanges. A senior party member said, “Delays aren’t an option.” The push includes setting responsibilities for platforms and preventing fraud. The legislative push will focus on setting clear responsibilities for crypto platforms and preventing fraud, with the goal of addressing gaps in the legal system and improving market transparency. South Korea Stablecoin Plans Focus on Korean Won As the government moves toward cleare… The post The GENIUS Act Effect: South Korea Is Now Fast-Tracking Its Own Crypto Regulations appeared first on Coin Edition .

Source: Coin Edition