South Korean lawmakers call for prioritizing stablecoin legislation to avoid delays caused by disputes over equity restrictions

According to Edaily, Kim Sang-hoon, a lawmaker and chair of the Digital Assets Special Committee of Korea’s People Power Party, expressed concerns about restrictions on cryptocurrency exchange equity during an academic conference. He called for prioritizing the enactment of the foundational digital asset law related to stablecoins (Phase II legislation) to avoid missing the legislative “golden window” amid controversies over equity regulation. He noted that the Korean won–pegged stablecoin KRWQ has already been issued and is circulating overseas—a development posing a serious challenge to monetary sovereignty. Kim emphasized that the law should provide market predictability, offer clear guidance to operators, and establish effective safety mechanisms for users.