South Korea's top financial regulatory agency will accelerate cryptocurrency legislation and launch the Basic Law on Digital Assets in the fall

According to The Block, South Korea's top financial regulator has stated that it will accelerate discussions on cryptocurrency-related legislation and plans to launch the country's version of the "Basic Law on Digital Assets" this fall.

The bill is expected to establish corresponding rules regarding stablecoin issuance, licensing for virtual asset service providers (VASP), Bitcoin ETFs, and other matters.