BlockBeats News, August 18, reported by The Block, the South Korean Financial Services Commission (FSC) is expected to submit a stablecoin regulation bill to the National Assembly in October. Park Min-kyu, a ruling party member, stated on Monday during a discussion related to stablecoins that he has received a report from the FSC containing this plan.
The bill will impose requirements on the issuance of stablecoins, collateral management, and internal risk control systems, and is expected to be included in the second set of digital asset legal frameworks currently being formulated.
