South Korean regulators failed to submit the Korean won stablecoin regulatory bill on time

ChainCatcher News, according to Newsis, earlier this month, South Korea's ruling party called on various ministries and the Financial Services Commission (FSC) to submit a regulatory bill on Korean won stablecoins by December 10, but the FSC failed to submit the bill on time.

An FSC spokesperson stated that the FSC needs more time to coordinate positions with relevant agencies, and that rather than rushing to meet the specified deadline, it would be better to announce its proposal while submitting the bill to the National Assembly. The FSC said this move is to protect the public's right to know about the matter.