South Korea Set to Launch Won-Back Stablecoin Bill

In a move aimed at boosting domestic stability and competition in the digital asset market, South Korea’s financial regulator is preparing to introduce legislation regulating won-backed stablecoins later this year. The Financial Services Commission (FSC) plans to submit its proposal to the National Assembly for review. This follows months of work within the virtual asset committee, with details shared by Democratic Party lawmaker Park Min-kyu during a recent policy debate.