Crypto Regulatory Wave: South Korea, FCA DeFi, SEC Digital Commodity Push
Three separate regulatory developments landed in the same hour: South Korea's Digital Asset Basic Act is near-final, the UK's FCA published DeFi guidance saying 'decentralized' isn't a regulatory shield, and blockchain groups urged the SEC to formally codify digital commodity status.
What we know
South Korea's FSC Chairman confirmed the Digital Asset Basic Act is in final consultation and will be introduced 'as soon as possible' (The Block). In the UK, the FCA published DeFi perimeter guidance with two consultations open until November 18 — smart contracts and distributed governance do not exempt a project from regulation (an account on X). In the US, Cardano Foundation, Hedera, and Ava Labs joined four others urging the SEC to embed 'digital commodity' classification in its proposed rule text, not just explanatory notes (The Block).
How the story developed
Three separate regulatory developments landed in the same hour: South Korea's Digital Asset Basic Act is near-final, the UK's FCA published DeFi guidance saying 'decentralized' isn't a regulatory shield, and blockchain groups urged the SEC to formally codify digital commodity status.
The OCC passed the final rule implementing the GENIUS Act, establishing stablecoin issuance requirements, marking a major step in US crypto regulatory clarity.
The OCC issued its first final rule under the GENIUS Act requiring crypto exchanges to seek approval for stablecoin rewards programs, with no safe harbors granted for pre-existing programs.
The US has finalized new crypto stablecoin regulations under the GENIUS Act, effective January 18, 2027. Multiple sources confirm the milestone as a watershed moment for crypto regulatory clarity.
The OCC published the first final rule implementing the Trump-signed GENIUS Act stablecoin framework, while South Korea's ruling party signals it may be open to reconsidering its January 2027 crypto gains tax amid fierce investor backlash.
Sources
“South Korea's FSC Chairman said consultations on the Digital Asset Basic Act are in the final stages”
View post →“Cardano Foundation joined five blockchain groups urging the SEC to codify digital commodity status”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.