According to Techinasia, South Korea's push for a bank-led won stablecoin issuance plan has sparked controversy. The Financial Services Commission has shifted its support to a restriction proposal proposed by the Bank of Korea, which allows only conglomerates controlled by banks to issue stablecoins. In the revised bill submitted to the National Assembly, banks must maintain majority control, but tech companies can become the single largest shareholders; at the same time, the bill proposes higher IT stability requirements for cryptocurrency exchanges, mandatory hacker loss compensation, and fines of up to 10% of annual revenue. Stablecoin issuers are required to have at least 5 billion KRW (approximately $3.7 million) in paid-in capital, with related thresholds potentially being raised in the future.