South Korea Considers Banking Consortiums for Stablecoin Issuance

According to BlockBeats, the South Korean government and National Assembly are advancing the second phase of digital asset legislation, focusing on the Basic Act on Digital Assets. A key proposal under discussion is to limit stablecoin issuance to consortiums where banks hold a 51% stake. This approach is gaining traction within the ruling Democratic Party's special task force on digital assets. Previously, the Bank of Korea advocated for banks to lead and restrict stablecoin issuance to the banking system source: https://www.binance.com/en/square/post/33196149250898?utm_source=BinanceNewsRSS