South Korea Pushes for Speedy Stablecoin Regulation, Setting December Deadline

South Korea’s ruling Democratic Party has issued a clear ultimatum to the government regarding stablecoin regulation. The party demands a draft bill be submitted by December 10th to the Financial Services Commission (FSC). If this deadline is missed, the regulation will be directly presented to parliament through legislative initiative by the party members. The aim is to introduce the proposal during the current legislative session and hold a vote by January 2026. The pressure for swift action comes amidst concerns about the potential risks of unchecked stablecoin issuance.