South Korea’s Ruling Party Sets Dec. 10 Deadline for Stalled Stablecoin Bill

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South Korea’s ruling Democratic Party has issued a final ultimatum to financial regulators, demanding a government proposal on stablecoin regulation by December 10.

Lawmaker Kang Jun-hyeon warned that if the deadline is missed, the party will advance a legislator-initiated bill instead.

The party’s goal is to introduce the legislation in the current parliamentary session and secure its passage in January. This push follows a closed-door meeting where an issuance model involving the Bank of Korea and a banking consortium was reportedly discussed.