South Korea's ruling party has proposed foreign exchange controls on stablecoins and mandated a trust for RWA assets.

CoinFeed reported on April 8th that, according to the Seoul Economic Daily, the latest consolidation bill from the ruling Democratic Party's Digital Asset Task Force has for the first time clarified the issuance standards for Real Asset Tokenization (RWA). It requires issuers to deposit related assets into a managed trust in accordance with the Capital Markets Act, with further details to be stipulated by presidential decree. For stablecoins, the bill stipulates that if used for foreign exchange transactions, they will be considered a means of payment under the Foreign Exchange Transactions Act, and operators will automatically be subject to foreign exchange management without separate registration. Daily consumer payments are exempt from reporting obligations. The bill also explicitly prohibits stablecoin issuers from paying interest to holders under any name. The Financial Services Commission is required to develop interoperability technical standards for stablecoins to prevent liquidity fragmentation when Korean won stablecoins are issued across multiple blockchains. Exchanges and fragmented disclosure systems will be integrated into a unified disclosure system under the Digital Asset Industry Association.