Korean Won stablecoin regulation bill faces delays; FSC and ruling party have disagreements

BugBountyHunter · 2025-12-18T23:36:41+00:00

The ruling party in South Korea has made slow progress on crypto regulation, and the deadline of December 10 to pass the Korean won stablecoin bill has not been met. The Financial Services Commission stated that due to coordination among multiple agencies, the quality of the bill must be ensured. Instead, detailed regulatory approaches will be released simultaneously with the proposal, emphasizing transparency and the public's right to know, laying the foundation for future legislation.

BugBountyHunter

2025-12-18 23:36:41

Abstract generation in progress

The ruling party in South Korea has encountered slow progress in advancing crypto regulation. According to the latest reports, the ruling party had requested the Financial Services Commission (FSC) and relevant ministries to complete the drafting of regulations for the Korean won stablecoin by the December 10 deadline, but this timetable ultimately was not met.

Why is the regulatory plan delayed?

The FSC provided an explanation for not meeting the deadline. A spokesperson admitted that relying solely on a tight schedule makes it difficult to complete this work, as the bill involves coordination of positions among multiple relevant agencies. Rushing the process could negatively impact the quality of the plan. The FSC’s stance indicates that, rather than hurriedly submitting an unthorough proposal, more time should be taken to ensure that the regulatory framework for the Korean won stablecoin is well-developed.

Transparency and public right to know

The FSC proposed an alternative: instead of rushing to submit the bill before the deadline, they will publish detailed regulatory ideas simultaneously with the official proposal to the National Assembly. This approach emphasizes the principles of openness and transparency, ensuring the public can understand the regulator’s attitude and planning direction regarding the Korean won stablecoin in advance. This open communication method may lay a more solid foundation for subsequent legislative processes.

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