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South Korea's Democratic Party plans to introduce a stablecoin bill after the June elections

MeNews
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ME News Report: On April 22 (UTC+8), Kim Hyun-jung, a member of the Digital Assets Special Task Force of South Korea’s Democratic Party, said that after the June local elections, they will submit the basic law related to digital assets in connection with stablecoins (second-phase legislation). The bill’s subcommittee will also convene at that time. Kim Hyun-jung noted that controversies such as limits on major shareholders’ holdings at exchanges have not been fully resolved and still require further discussion. However, considering that the newly appointed Governor of the Bank of Korea, Shin Hyun-sung, has a positive attitude toward stablecoins, he believes that stablecoin legislation will ultimately be passed. The Democratic Party’s Digital Assets Special Task Force is considering meeting with Shin Hyun-sung after the local elections. Kim Hyun-jung also emphasized that the relevant systems for the CBDC and the Korean won stablecoin should be improved in advance, to ensure that the tax system is consistent with international regulation, and to effectively strengthen the infrastructure for combating digital asset crimes. (Source: PANews)
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