Gate News bot message, according to The Block, the South Korean Financial Service Commission plans to submit a stablecoin regulatory bill to the legislative body in October this year. The bill will be part of the second phase of the digital asset legal framework and will involve requirements related to the issuance of stablecoins, collateral management, and risk control. Meanwhile, the four major banks in South Korea are expected to meet with Heath Tarbert, the president of USDC issuer Circle, next week to discuss stablecoin cooperation. It is worth noting that Japan is also expected to approve the issuance of the first yen stablecoin this fall.