South Korea’s ruling party has issued a final notice to financial regulators, urging them to deliver a draft stablecoin regulatory framework by December 10, according to a report from Maeil Business Newspaper.
Lawmaker Kang Joon-hyun stated that if the government bill is not submitted on time, the political affairs committee will move forward with its own legislative process.
Should the draft be delivered as scheduled, the proposal is expected to be reviewed during the National Assembly’s extraordinary session in January 2026.
The Financial Services Commission later clarified that no decisions have been finalised regarding the creation of a bank-controlled consortium for issuing Korean-won-pegged stablecoins.
Earlier discussions suggested banks may be required to hold at least 51% equity, but regulators now say no concrete agreement has been reached.
Tensions persist between the Bank of Korea and regulatory agencies over how much authority banks should have in stablecoin issuance. The ongoing dispute raises concerns that South Korea may end the year without a clear framework for locally issued stablecoins, despite increasing urgency to regulate the sector.
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