National Assembly policy seminar and the launch of the Stablecoin Alliance

The Stablecoin Alliance was officially launched at the "Policy Seminar on Securing Leadership in the Stablecoin Era," held on December 5, 2025, in Seminar Room 2 of the National Assembly Members' Office Building. The seminar was organized by the Korea Web3 Blockchain Association (KWBA) and the Stablecoin Alliance. Figures from the financial authorities, industry, the legal profession and academia gave presentations and took part in a discussion on the policy and technical direction for a won-denominated stablecoin.

Main points of the presentations

The first presentation was given by Jonghyup Kim, Chair of the Stablecoin Alliance (CEO of PARAMETA). Chair Kim described reliability as the core of stablecoins and said that a reliability assessment framework with anti-money laundering (AML) and know-your-customer (KYC) functions built into the network is needed. His reasons were that even fiat-backed coins can lose their one-to-one value, and that blockchains are also software and can therefore contain errors. He named four evaluation criteria: governance transparency, operational stability, regulatory compliance and technical reliability.

Jongseung Kim, CEO of XCRYPTON, emphasized the link to the real economy. In his assessment, stablecoins become useful only when they are connected to systems such as trade finance, logistics and customs payments. Wonhee Jo, managing partner of DLG Law Corporation (Chair of KWBA), grouped the issues in the National Assembly bills and the government bill into seven areas: the issuing entity, ownership structure, issuance requirements, reserve assets, user protection, the supervisory framework and the regulation of foreign coins. He then proposed forming a public-private working group on technical standards.

Main points of the discussion

The general discussion was moderated by Professor Yongjin Kim of Sogang University. Yeongju Yoon, deputy director at the Financial Services Commission (FSC), Korea's financial regulator, named user trust as the starting point for adoption. To that end, Yoon said, a licensing regime for issuers, a requirement to hold reserve assets of 100% or more, and bankruptcy remoteness (arrangements that protect users' assets even if the issuer fails) are being designed.

Industry panelists called for complementary measures to grow the industry. Jaejin Kim, executive vice chair of the Digital Asset eXchange Alliance (DAXA), a joint body of Korean virtual asset exchanges, said that if government bonds are used as reserve assets, investment guidelines centered on short-term maturities are needed. Yeongha Lee, senior expert at Korea Digital Asset Rating and Certification, proposed designing stablecoins as a global means of payment for content and trade. Seongsan Lee, CEO of Superteam Korea (Solana), said that on-chain infrastructure with global interoperability and real-time payments should be built without delay. The event also included a demonstration of on-chain KYC payments that block transactions between unverified wallets.

Launch declaration

At the end of the event, the launch of the Alliance was declared. Jonghyup Kim, the founding chair, named three conditions for stablecoins to become established as financial infrastructure: reliability, standardization and interoperability. Describing the purpose of the launch, he said the Alliance would "establish technical standards on a private-sector-led basis and secure Korea's leadership in the global market."