According to EDaily, Bank of Korea Governor Shin Hyun-song stated at the National Assembly on July 9 that South Korea should introduce a Korean won stablecoin system as soon as possible and advance the legislation of the Digital Asset Basic Act. Shin Hyun-song said that stablecoins and deposit tokens will maintain a "competitive, complementary relationship." The Bank of Korea stated that legislation for Korean won stablecoins needs to set safety mechanisms such as priority issuance by banking-centered consortia and establishment of statutory policy bodies between relevant agencies, and consider macroeconomic impacts such as weakening of monetary policy effects and risk of foreign exchange policy circumvention.