South Korea Stablecoin Regulation Bill Stalls Over Issuer Dispute

South Korean regulators are at a stalemate over who may issue stablecoins, delaying the Digital Asset Basic Act until next year. The Financial Services Commission mandates strict reserves and custodial requirements to mitigate bankruptcy risks. However, the Bank of Korea insists issuers must be banking consortia with majority control. This disagreement blocks progress on regulating local stablecoin issuance and poten.