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The South Korean opposition party is promoting a legal framework for the Korean won stablecoin.
Jinse Finance reported that South Korea's opposition party, the People Power Party (PPP), has listed a bill regarding the establishment of a legal framework for a stablecoin pegged to the Korean won as a top legislative agenda for the September National Assembly meeting. This legislation aims to establish legal guidelines for the issuance and circulation of stablecoins linked to the Korean won, which may promote the development of South Korea's crypto market in a more regulated environment.