The South Korean Financial Regulatory Authority is set to submit a stablecoin regulation bill in October.

BlockBeats News, August 18th - According to The Block, the Financial Services Commission (FSC) of South Korea is expected to submit a stablecoin regulation bill to the National Assembly in October. South Korean ruling party member Park Min-gue mentioned in a stablecoin-related discussion on Monday that he has received a report from the FSC outlining this plan.

This bill will require regulations on stablecoin issuance, collateral management, and internal risk control systems, and is expected to be included in the ongoing development of the second set of digital asset legal frameworks.