The Korean Financial Commission said it will finalize the "Virtual Asset User Protection Law (Phase II) " legislation including the stablecoin regulatory system within this year and submit it to the National Assembly for consideration. In order to speed up the legal process of stablecoins, it plans to simultaneously advance the preparation of the bill submission and implementation details.
In the national affairs review of the Parliamentary Affairs Committee held on October 20, Chairperson Li Yiyuan responded to a question from Democratic Party lawmaker Liu Dongzhu on the timing of the submission of the second-phase virtual asset legislation, saying that it has entered the final stage of coordination with relevant departments and is expected to complete the submission before the end of the year.
Chairperson of the South Korean Financial Commission: The stablecoin bill will be announced within the year
2025-10-20 04:50:23
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