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The Korean Democratic Party plans to promote stablecoin legislation after the June elections.
ChainCatcher news: Kim Hyun-jung, a member of the Digital Asset Special Work Group of the Korean Democratic Party, said that they plan to submit a basic digital asset law related to stablecoins (second-stage legislation) after local elections and advance the bill subcommittee’s review in parallel.
They pointed out that there are still disagreements on issues such as limits on exchange major shareholders’ holdings, and further discussion is needed. At the same time, they believe that given positive stances toward stablecoins from Bank of Korea Governor Shin Hyun-song, the relevant legislation is expected to be pushed forward for passage. In addition, the working group is considering meeting with them after the election and advancing the design of a CBDC and the Korean won stablecoin system.