South Korea's Democratic Party to Submit Stablecoin Bill by Early March 2025

South Korea's ruling Democratic Party plans to submit a compromise stablecoin bill to the government and Financial Services Commission within one to two weeks following a Digital Asset Task Force advisory committee meeting held on Feb. 24, 2025, Edaily reports. The initiative, led by Representative Lee Jeongmun and Secretary Ahn Dogeol, aims to finalize a draft within a week. The proposed legislation focuses on industry-authority consensus on reserve backing, issuer licensing, and market stability, building on the country's 2021 Specific Financial Information Act.