According to CoinMeta, and as reported by Yonhap News Agency, South Korea's Digital Assets Basic Act is entering the final discussion stage. Financial regulatory authorities and legislators are debating whether to start taxing cryptocurrencies before the regulatory framework is established. Lee Yu-won, the chairman of the Financial Services Commission, stated during a meeting of the National Assembly's Political Affairs Committee that the legislative discussions are nearing completion, and relevant departments will work to pass the bill as soon as possible. The bill is expected to establish rules for cryptocurrency businesses, exchange licensing, and the issuance of stablecoins. Negotiations are still ongoing regarding the regulation of trading platforms and the conditions for companies to issue Korean won-stablecoins. South Korea plans to impose a tax rate of 22% on annual earnings from cryptocurrencies exceeding 2.5 million Korean won, which includes 20% in national income tax and 2% in local income tax.