South Korea's Financial Services Commission delays submission of Korean won stablecoin regulation bill

【ChainNews】The ruling party in South Korea previously issued a strict order to all ministries and the Financial Services Commission—by December 10th, they must finalize the regulatory bill for the Korean won stablecoin. What was the result? The Financial Services Commission did not submit the bill on time.

Their official statement is: coordinating the positions of various agencies takes time, and this task cannot be rushed. Rather than hurriedly completing it before the deadline, it’s better to first align the positions with the relevant departments and then formally submit the complete bill proposal to the National Assembly.

This situation reflects South Korea’s cautious attitude towards the new stablecoin sector. From the ruling party’s proactive push to the Financial Services Commission’s time requests, it’s clear that the stablecoin regulatory framework has entered a stage of high attention from all parties. The subsequent details of the bill will directly impact the development prospects of stablecoins in the Korean market.