South Korea Plans to Submit Stablecoin Regulatory Bill in October

According to reports from HashKey Chain, the South Korean Financial Services Commission plans to submit a stablecoin regulatory bill to the legislative body in October, covering issuance, collateral management, and risk control requirements. This bill will be included in the second phase of the digital asset legal framework. Next week, South Korea's four major banks are expected to meet with Circle's President Heath Tarbert to discuss stablecoin cooperation. In Japan, there are also hopes to approve the issuance of the first yen stablecoin in the fall.