KoreaFor AI agents to pay, regulators weigh stablecoin payment rules and the electronic finance act

Korea's Financial Services Commission is reviewing whether financial laws including the Electronic Financial Transactions Act need updating for stablecoin payments. Experts also urged preparing for an 'agent economy' where AI buys, pays and settles on a person's behalf.

At a National Assembly Library forum on Nov. 2, FSC virtual-asset division head Seo Na-yoon said the commission is working to move the Digital Asset Basic Act quickly and that 'existing financial laws must be reviewed for stablecoins to be used in payments'. Lawyer Han Seo-hee of Kim & Chang cited machine-usable wallets, 24/7 settlement and rules to verify identity and delegated authority as needed foundations.

Han warned that under current interpretation, firms offering auto-trading programs via API may count as virtual-asset businesses, and imposing reporting duties could make agents hard to deploy in Korea. Seo agreed AI agents cannot be handled by the traditional principal-agent relationship and said legislation would be considered after watching how financial AI guidelines work.