South Korea said it will move to enact the Digital Asset Basic Act in the second half of 2026 and advance its central bank digital currency project during the same period, according to statements from the government.
The timeline reflects a shift in the country's regulatory approach to crypto and tokenized assets after years of debate. Previous versions of the act stalled in parliament, and the government had not previously committed to a specific enactment window.
The Digital Asset Basic Act would establish a legal framework for digital assets in South Korea, a country that has long hosted major cryptocurrency exchanges and trading activity. The legislation has faced multiple delays since initial proposals in 2021. Earlier sources indicated the government was planning debate resumption rather than final passage, suggesting the H2 2026 target represents an acceleration of the legislative calendar.
The country's central bank digital currency initiative is separate from the asset act. South Korea's Bank of Korea has been running trials of a digital won. In March 2026, the bank expanded its testing phase by adding two commercial banks to real-world trials, a move the central bank said would test functionality and operational readiness.
South Korea has positioned itself as a pro-crypto jurisdiction relative to some peers. The government has previously signaled openness to stablecoin issuance and corporate cryptocurrency investment, though regulatory clarity on those topics remains incomplete. The Digital Asset Basic Act is expected to address classification, custody standards, and exchange oversight.
No official government press release detailing the H2 2026 timeline was immediately available for independent verification of the announcement's exact parameters.
