South Korea to Propose Stablecoin Consolidation Bill
- South Korea plans one bill covering stablecoins, exchanges, and user safeguards.
- Lawmakers still need to settle issuer ownership and exchange equity limits.
- South Korea trails active regimes across the US, EU, Hong Kong, and Abu Dhabi.
South Korea’s Financial Services Commission plans to propose a consolidated digital asset bill covering stablecoins and wider market rules.
FSC Chairman Lee Eog-weon presented the plan during a National Assembly Political Affairs Committee meeting on July 29. The hearing marked the regulator’s first business report after lawmakers formed the committee’s new second-half membership.
According to the advance report, the FSC will work with the ruling party on one government-backed legislative proposal. However, officials have not confirmed the submission date or final structure.
The legislation will form the second phase of …
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