South Korea draft bill puts stablecoins, RWAs under finance laws: Report

The draft proposal from South Korea’s ruling party reportedly bars stablecoin interest and calls for technical standards to ensure interoperability across blockchain networks..

• The draft proposal from South Korea’s ruling party reportedly bars stablecoin interest and calls for technical standards to ensure interoperability across blockchain networks
• Cointelegraph in your social feed South Korea’s ruling Democratic Party is reportedly preparing a draft bill that would classify stablecoins as foreign exchange payment instruments and require tokenized real-world assets (RWAs) to be backed by assets held in trust
• Citing an integrated draft of the proposedDigital Asset Basic Act, the Seoul Economic Dailyreportedon Wednesday that stablecoins used in cross-border transact