The South Korean regulatory agency failed to submit the regulatory bill for the won stablecoin on time

According to Newsis, earlier this month, the ruling party of South Korea urged various ministries and the Financial Services Commission (FSC) to submit a regulatory bill for the Korean won stablecoin by December 10, but the FSC failed to submit the bill on time.

An FSC spokesperson stated that the FSC needs more time to coordinate positions with relevant agencies, and rather than rushing to complete the proposal before the deadline, it is better to announce its proposal when submitting the bill to the National Assembly. The FSC described this move as a way to protect the public's right to know about the matter.