South Korea weighs stablecoin bill as FSC chief attends parliamentary session today

South Korea’s Financial Services Commission will attend a parliamentary policy questioning session today, while the National Assembly is set to begin full-scale committee work on a basic law on digital assets, or the second phase of legislation, Edaily reported. Attention is focused on the outcome of stablecoin-related legislative discussions as the government and ruling Democratic Party are reviewing an integrated proposal for next month. The National Assembly is scheduled to hold a plenary meeting of the National Policy Committee at 5:00 a.m. UTC today at the parliament building in Yeouido, Seoul. Financial Services Commission Chairman Lee Eog-weon is expected to attend. A National Assembly official said the bill is being pushed for introduction before the parliamentary audit and for passage during the regular September session, although sharp differences remain within the ruling party and multiple pending issues, including the fallout from single-stock leveraged exchange-traded funds, could make the process difficult.