South Korean Parties Propose Competing Stablecoin Legislation

According to PANews, South Korea's ruling and opposition parties have each submitted competing legislative proposals regarding stablecoins. The proposals, introduced on Monday, highlight differences over key provisions such as the prohibition of interest payments on stablecoins. Both bills grant financial regulators emergency powers and mandate full reserves for stablecoins pegged to the Korean won. The ruling party's proposal emphasizes innovation and market reliability, while the opposition party's bill explicitly bans interest payments and demands higher capital requirements source: https://www.binance.com/en/square/post/27586669910922?utm_source=BinanceNewsRSS