Korea FSC: Will draft specific content for stablecoin regulatory regulations as originally planned in the second half of this year

ChainCatcher news, according to the Daily News, the Financial Services Commission (FSC) of South Korea has reiterated its commitment to the smooth and timely development of a regulatory framework for stablecoins. Previously, the South Korean government announced plans to review the second phase of legislation for its broader virtual asset framework, with stablecoin regulation listed as a top priority.

The FSC confirmed that it will adhere to the original timeline, aiming to draft specific content for the second phase of regulation in the second half of this year. A dedicated working group composed of relevant government agencies will be responsible for organizing this process. The commission also stated that, in light of recent market volatility, it will enhance monitoring of the broader virtual asset market, including stablecoins. These efforts aim to strengthen protection for cryptocurrency users.