The South Korean Financial Services Commission plans to submit a stablecoin regulation bill in October

ChainCatcher news, according to The Block, the South Korean Financial Services Commission plans to submit a stablecoin regulatory bill to the legislature in October, covering issuance, collateral management, and risk control requirements. This bill will be included in the second phase of the digital asset legal framework.

The four major banks in South Korea are expected to meet with Circle President Heath Tarbert next week to discuss stablecoin collaboration. Japan is also expected to approve the issuance of its first yen stablecoin in the fall.