Korea’s Digital Asset Basic Act shows how AI-era finance will be policed
Seoul is moving from basic user safeguards to a MiCA-style market rulebook. Expect licensing, custody, stablecoin, and audit data demands that reshape global crypto ops in Korea.
AsiaAIFrontNews2 min read
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Korea is fast‑tracking a second‑stage Digital Asset Basic Act atop its new Virtual Asset User Protection Act. The blueprint echoes the EU’s MiCA, aiming to license exchanges, police stablecoins, and codify disclosures. For global exchanges, custodians, and AI‑driven desks, a G20 testbed outside the West will shape compliance for token markets and algorithmic activity.
Key Takeaways
Seoul is preparing a Digital Asset Basic Act beyond user safeguards.
Korea’s Virtual Asset User Protection Act fixed outages, commingling, and unfair trading. The forthcoming Basic Act defines the market’s structure—who may operate, capital and controls, and which tokens fall inside the perimeter. With MiCA already live in the EU and the U.S. fragmented, a coherent Korean regime would be the leading non‑Western proof that MiCA‑style oversight can coexist with liquidity and tokenization, trading stricter reporting for regulatory certainty.
What the Digital Asset Basic Act is expected to cover
Licensing for virtual‑asset service providers; segregated, bankruptcy‑remote custody; and market‑abuse surveillance for wash trading, spoofing, and cross‑venue manipulation. Disclosures on token issuance, governance, and material events. Stablecoin reserves, attestations, and redemption rights. Clear token classes aligning with MiCA. Cross‑border duties pulling offshore venues serving Koreans into local standards.
What to Watch: Whether Seoul mandates MiCA‑style white papers and stablecoin reserve attestations quarterly or monthly—signaling how strictly AI‑trading logs must be retained and inspected.
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