The South Korean government is actively advancing the legislation of the "Digital Asset Basic Act" — this is the second major bill in the virtual asset regulation phase. According to the plan, the new law will strengthen investor rights protection, establish strict damage compensation responsibilities for digital asset operators, and create bankruptcy risk isolation mechanisms for stablecoin issuers. Sounds good, but reality is always a bit complicated. Stablecoin issuers and other related institutions have disagreements with the government on key clauses, leading to repeated delays in submitting the proposal, and the earliest progress is expected next year. The Financial Services Commission is currently closely reviewing the bill, and the industry is awaiting the outcome of this step.