South Korean lawmakers have established a firm deadline of December 10 for the submission of a comprehensive draft bill governing stablecoins. The National Assembly’s Political Affairs Committee has issued a clear directive to the nation’s financial regulators, emphasizing that legislative action will proceed independently if the stipulated deadline is not met. This move underscores a significant push to establish legal clarity and consumer protection measures for digital assets pegged to stable value, such as fiat currencies. The impending legislation is expected to address critical areas including issuance, disclosure, and operational standards for stablecoin providers. This regulatory initiative forms a core component of South Korea’s broader strategy to foster a secure and innovative digital asset ecosystem while mitigating systemic risks. The deadline reflects a sense of urgency among legislators to keep pace with rapid global developments in cryptocurrency markets and to provide a structured environment for domestic industry participants.
