South Korea's Financial Services Commission (FSC) Chairman Lee Eok-won said the framework for the Digital Asset Basic Act and a won-denominated stablecoin has already been drafted and now sits in final coordination.

Lee made the remarks on Thursday, October 8, while responding to questions from Democratic Party members during the National Assembly's Political Affairs Committee audit, according to COINOTAG.

The Financial Services Commission is South Korea's top financial regulator, overseeing banking, securities, and payment services. The Digital Asset Basic Act is legislation under consideration in the National Assembly that is intended to establish a comprehensive legal framework for digital assets, with stablecoin regulation among its central elements.

A won-denominated stablecoin would be a digital token pegged to the South Korean won. South Korean policymakers have worked in recent years to define how such tokens would be issued, backed by reserves, and supervised as part of broader efforts to bring digital asset activity under formal regulation. With the framework described as being in its final coordination stage, the details to watch next are how those issuance, reserve, and supervisory rules are ultimately settled, and when the bill formally advances through the National Assembly.

This content was first published on COINOTAG: https://en.coinotag.com/fsc-chairman-won-stablecoin-law-final-coordination