According to CoinMeta, South Korea is close to introducing new regulations for bank-led Korean won stablecoins, with a new digital assets bill expected to be released this month. Legislators still have disagreements over the proposal that requires banks to hold a majority stake in stablecoin issuance alliances. The proposal allows cryptocurrency exchanges and payment companies to participate in distribution, customer transactions, and merchant settlement services. Under the proposal, banks would need to hold at least 50% plus one share in authorized stablecoin issuance alliances. The Financial Services Commission is expected to announce the main provisions of the Digital Assets Basic Act in November. The legislative process for this bill has faced delays due to disagreements between regulatory authorities and legislators regarding issuer qualifications, restrictions on exchange ownership, and consumer protection requirements.