Chairman Lee Jung-moon: “Establishment of KRW-based Stablecoin Policy”
On the 24th, at the launch ceremony of the Democratic Party’s Digital Assets Task Force (TF) held at the National Assembly in Yeouido, Seoul, Representative Lee Jung-moon (left) is speaking. [Yonhap]
[Herald Economy = Yang Geun-hyeok] The Democratic Party’s Digital Assets Task Force was launched on the 24th. The TF was formed to lead legislation related to digital assets, including stablecoins.
The Democratic Party’s Digital Assets TF held its launch ceremony at the National Assembly in Yeouido, Seoul, on the morning of that day. Lee Jung-moon, the chair of the special committee and a Democratic Party lawmaker, stated, “We will aim to establish relevant digital asset laws through the regular and end-of-year national assemblies this year.” The TF plans to coordinate differences within and outside the party by holding government consultations, industry & expert meetings, and legislative hearings during the legislative process.
Rep. Lee explained, “In response to the US dollar-based stablecoins and digital asset policies of competing countries, we will protect South Korea’s monetary sovereignty and establish a KRW-based stablecoin policy.”
After the meeting, TF Secretary An Do-geol met with reporters and said, “We need to quickly accept and lead the unavoidable flow of financial innovation,” and emphasized, “We will aim to legislate as soon as possible.”
The TF plans to receive reports on current issues and challenges from the Financial Services Commission, the Financial Supervisory Service, the Bank of Korea, and the Ministry of Science and ICT on the 25th, and to hold a meeting with the financial digital asset industry on October 1st.