South Korea Plans Regulatory Framework for Won-Backed Stablecoin

According to Cointelegraph, South Korea is reportedly preparing to introduce a regulatory framework for a won-backed stablecoin, with its financial regulator set to unveil a government bill in October. The Financial Services Commission (FSC) will present this bill as part of the second phase of the nation's Virtual Asset User Protection Act. Democratic Party of Korea (DPK) Representative Park Min-kyu disclosed during a policy debate that he received a briefing from the FSC regarding the policy direction on stablecoins. He mentioned that the government bill is anticipated to be submitted to the National Assembly around October source: https://www.binance.com/en/square/post/28480629028009?utm_source=BinanceNewsRSS