South Korea's Ruling Party Wants to Allow Companies to Issue Stablecoins: Bloomberg

South Korean President Lee Jae-myung's Democratic Party submitted a bill to parliament that would allow qualifying companies to issue stablecoins, Bloomberg reported on Tuesday.The Digital Asset Basic Act is aimed at improving transparency and encouraging competition in cryptocurrency, Bloomberg said. Companies would be able to issue their own stablecoins provided they have at least 500 million won ($368,000) in equity capital and can guarantee refunds through reserves as well as receiving approval from the Financial Services Commission. Lee, voted in as president last week, made a number of promises to South Korea's crypto industry during his election campaign, appealing to the nation's 15 million crypto investors source: https://www.coindesk.com/policy/2025/06/10/south-koreas-ruling-party-wants-to-allow-companies-to-issue-stablecoins-bloomberg