PANews reported on January 15 that according to The Block, the Financial Services Commission (FSC) of South Korea has begun discussing the formulation of the second phase of the crypto regulatory framework and plans to draft relevant legislation in the second half of 2025. The meeting focused on improving the transparency of cryptocurrency transactions and the accountability of stablecoin issuers. FSC Vice Chairman Kim So-young said that the new framework will take a comprehensive and systematic approach, covering service providers, crypto users and markets, and refer to international regulatory practices to strengthen the management of reserve assets and the protection of user redemption rights.

South Korea’s first crypto regulatory framework launched last year requires exchanges to store more than 80% of user assets in cold wallets and separate them from their own funds. The new bill may further improve relevant regulations.