The Democratic Party of Korea submits the first special bill on stablecoins.

[The Democratic Party of Korea Submits the First Special Stablecoin Bill] According to the Chosun Ilbo, South Korean National Assembly member Ahn Doo-jae will officially submit the draft "Law on the Issuance and Circulation of Value-Stabilizing Digital Assets" today. This is South Korea's first systematic legislative proposal targeting the entire process of issuance, circulation, and regulation of the won-denominated stablecoin, which is more specialized than the stablecoin provisions included in last month's "Basic Law on Digital Assets" proposed by member Min Byung-deok. It is worth noting that the ruling party, the People Power Party, represented by Member Kim Eun-hye, is also reported by the "Daily Economic News" to submit a similar bill this week, creating a competitive legislative atmosphere between the two parties. The special bill initiated by the Democratic Party marks the transition of the South Korean legislative body into the substantive operational phase of constructing a regulatory framework for stablecoins, which may lay the legal foundation for the compliant issuance of the Korean won stablecoin in the future.