South Korea's Democratic Party proposes the country's first stablecoin bill
According to the Chosun Ilbo, the Democratic Party of Korea proposed a bill to institutionalize stablecoins on the 28th. Ahn Deok-gil (transliteration), a member of the Democratic Party of Korea, who belongs to the National Assembly Budget Settlement Committee, will present the "Draft Law on the Issuance and Circulation of Value-Stable Digital Assets" containing the above content on the same day.
The media explained: "Although the "Digital Asset Basic Law" proposed by Democratic Party member Min Bingde (transliteration) last month contains some stablecoin-related content, this is the first time that a bill has been introduced to regulate the entire ecosystem of the issuance, circulation, and supervision of the Korean won stablecoin."
Previously, the Daily Economy reported that Kim Eun-hye (transliteration), a member of the National Power Party, also plans to propose a bill related to the issuance of the Korean won stablecoin this week.