Overview

• Lawmakers from the Democratic Party and People Power Party have filed dueling won-pegged stablecoin bills in the National Assembly
• Ahn Do-geol’s Democratic Party draft bans all interest payments on fully reserved tokens while Kim Eun-hye’s rival proposal permits yield
• Both frameworks require 100 percent high-liquidity asset backing and grant regulators emergency intervention powers
• The ruling party’s bill demands Financial Services Commission preapproval, a minimum 5 billion won capital base, robust IT systems and dedicated personnel for issuers
• The Bank of Korea is establishing a dedicated virtual asset team to monitor digital tokens and advise on forthcoming crypto regulations