South Korea delays the passage of the second phase of the Virtual Asset Act due to disputes over stablecoin-related provisions
ChainCatcher News, according to market sources, the second phase of South Korea's "Virtual Asset Act" legislative process has been delayed due to disputes over key provisions. The bill aims to comprehensively regulate digital assets, including stablecoins. The main points of contention focus on two aspects: first, the eligibility of issuers for KRW stablecoins, specifically whether issuance should be led by banks or authorized enterprises; and second, whether restrictions on the separation of financial and virtual asset businesses should be relaxed to encourage innovation.
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