Is South Korea going to launch a "national team stablecoin"? Banks hold 51%, and lawmakers give the Ministry of Finance an ultimatum.

[Coin World] South Korea has taken new actions in cryptocurrency legislation.

Lawmakers plan to finalize the “Fundamental Law on Digital Assets” before January 2026, with the key highlight being the introduction of a “Korean-style stablecoin.” The structure of this stablecoin is quite unique—banks must hold over 51% of the shares, while tech companies can only be minority shareholders. In other words, it is designed to ensure that traditional financial institutions firmly maintain control.

Democratic Party member Kang Jun-hyeon has given the finance department an ultimatum: the government version of the proposal must be submitted by December 10. His stance is clear; if the officials delay, the members will create an independent version themselves.

The design concept of this alliance structure is quite interesting, as it aims to embrace innovation while unwilling to give up regulatory control. Whether it can be implemented on time ultimately depends on the results of the negotiations among all parties.