The Financial Services Commission (FSC) is committed to establishing a robust regulatory framework for stablecoins, undeterred by recent market fluctuations. Emphasizing the importance of user protection, the FSC announced its plans to proceed with the second phase of legislation for the Virtual Asset Act, prioritizing stablecoin regulation. According to the FSC, a task force will meticulously review the specifics of the bill, aiming for implementation in the second half of the year, as originally planned. This proactive approach underscores the government's dedication to fostering a secure and transparent virtual asset ecosystem. In light of increased volatility in the cryptocurrency market, the FSC is intensifying its monitoring of stablecoins and other virtual assets. This heightened vigilance ensures early detection of potential risks and swift intervention to safeguard investors. The FSC's commitment to stablecoin regulation reflects a broader effort to balance innovation with consumer protection in the rapidly evolving digital asset landscape. ```
