South Korea to Develop Smart Contract Security Guidelines After Stablecoin Incident

South Korea's Financial Security Institute plans to establish smart contract security guidelines by late 2026. This initiative follows an unauthorized stablecoin issuance by a domestic game company, highlighting the need for standardized security measures in the cryptocurrency sector. The FSI aims to include specific requirements, such as asset freezing and issuance suspension, to mitigate systemic risks and integrate these into the Digital Asset Basic Act.