According to Foresight News, as reported by the Korean media Newsis, earlier this month, the ruling party in South Korea called on various ministries and the Financial Services Commission (FSC) to submit a regulatory bill for the Korean won stablecoin before December 10, but the FSC failed to submit the bill on time.
The FSC spokesperson stated that the FSC needs more time to coordinate positions with relevant agencies. Instead of rushing to complete the proposal before the specified deadline, it would be better to announce the proposal at the same time as submitting the bill to the National Assembly. The FSC stated that this move is to protect the public's right to know about the matter.