South Korean lawmakers set a Dec. 10 deadline for a stablecoin regulation draft, warning they’ll legislate independently if regulators miss the deadline.
South Korean lawmakers are pressing financial regulators to deliver a draft stablecoin bill by a deadline set for later this month, as disagreements over the role of banks continue to stall progress.
According to a Monday report by a local news outlet, Maeil Business Newspaper, South Korea’s ruling party sent a “last-minute notice” to financial regulators to submit a stablecoin regulatory framework draft by Dec. 10.
Kang Joon-hyun, a lawmaker from the Democratic Party, said, “If the government bill does not come over within this deadline, we will take a drive through legislation by the secretary of the political affairs committee.” If it is delivered in time, he expects the bill will be discussed at the extraordinary session of the National Assembly in January 2026.
