South Korea's Democratic Party Deliberates Digital Asset Legislation

South Korea's ruling Democratic Party is still in discussions regarding crucial elements of its Digital Asset Basic Act. According to NS3.AI, the party is focusing on issues such as stablecoin issuance and shareholder restrictions. Key contentious points include proposals to limit the issuance of won-denominated stablecoins to consortiums led by banks and to cap the stakes of major shareholders in cryptocurrency exchanges. The Democratic Party plans to finalize and present the bill following further deliberations, aiming for completion before the Lunar New Year holiday.