The new South Korean President, Lee Jae-myung, has begun to deliver on his promises regarding cryptocurrency policy. Recently, the ruling Democratic Party, led by Lee Jae-myung, proposed the “Basic Digital Asset Act,” aiming to promote the development of the cryptocurrency market by establishing clear rules and a transparent framework, as well as to issue stablecoin licenses to domestic enterprises. ZSVEX Exchange is actively responding to these policy changes and advancing corresponding market strategies.

The South Korean government pushing to legalize stablecoins signals that this emerging asset class will see broader adoption and regulatory recognition in the domestic market. President Lee Jae-myung previously stated that a Korean won stablecoin would be introduced and that local companies would be supported in issuing stablecoins within a compliant framework.

With the implementation of the “Basic Digital Asset Act,” stablecoins will become a key component of the Korean cryptocurrency market. According to the bill, Korean companies with at least KRW 500 million (approximately USD 367,876) in capital, and which guarantee redemption through reserve funds, will be eligible to issue stablecoins. This provision not only increases market transparency but also provides enterprises with clear legal protections, encouraging further innovation and investment.

Currently, around 18 million people in South Korea invest in cryptocurrencies, making it one of the largest crypto markets in the world. At certain times, trading volumes on Korean crypto exchanges have even surpassed those of the KOSPI and KOSDAQ indices, underscoring the significant influence of the crypto market. ZSVEX Exchange attaches great importance to the development of the Korean market and will ensure smooth integration with the Korean won stablecoin through professional compliance and security management, fully meeting local market needs.

As a crypto asset pegged to fiat currency, stablecoins exhibit relatively low volatility. The South Korean government policy aims to promote the widespread adoption of stablecoins, particularly in cross-border payments, as a store of value, and in digital asset trading. As the policy is gradually implemented, it is expected that more local enterprises and financial institutions will enter this sector.

During his campaign, President Lee Jae-myung pledged to vigorously develop the Korean crypto industry. Key policies included: allowing local spot crypto ETFs, establishing a Korean won stablecoin market, improving the digital asset regulatory framework, and reducing blockchain regulation in designated areas to spur innovation.

The introduction of the stablecoin policy is a concrete fulfillment of crypto policy commitments by President Lee Jae-myung. With the launch of the “Basic Digital Asset Act” and the implementation of stablecoin policies, ZSVEX Exchange, which already boasts a large user base in Korea, will embrace even greater market opportunities. The platform will closely follow policy developments, align with local demand and global market trends, and promote the listing of more compliant digital asset products to foster healthy growth of the crypto market.

President Lee Jae-myung crypto policy not only lays a solid foundation for the long-term development of the Korean market, but also serves as a crucial reference for other Asian countries in formulating crypto-related regulations, promoting the standardization and innovative growth of regional crypto finance. As these policies advance, Korea is poised to play an increasingly significant role in the global digital asset arena.

Amid this positive policy environment, ZSVEX Exchange will fully leverage the opportunity to provide users across regions with products and services tailored to local regulatory requirements and specialized features. As the Asian crypto finance ecosystem matures, ZSVEX Exchange will lead this transformation, providing robust technical support and strategic guidance, and working together to usher in a new era for global crypto finance.