South Korea nears final talks on stablecoin law, FSC chief says

South Korea’s Financial Services Commission Chairman Lee Eog-weon said the contents of the Framework Act on Digital Assets, the second phase of digital-asset legislation, have already been prepared and are in final-stage consultations, Edaily reported. Lee made the remarks at a parliamentary audit by the National Policy Committee in Seoul on Oct. 8 after Democratic Party lawmaker Lee Kang-il said legislation on stablecoins under the digital-asset framework was urgent. Lee said authorities will move quickly to finalize consultations and set the broader direction for the industry and the market. Lee added that policy on stablecoin types and licensing would be managed flexibly while monitoring market conditions, with the goal of keeping pace with global trends while building a safe and robust framework.