{"id":39384,"date":"2025-07-29T16:19:01","date_gmt":"2025-07-29T16:19:01","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=39384"},"modified":"2025-07-29T16:19:01","modified_gmt":"2025-07-29T16:19:01","slug":"south-koreas-political-heavyweights-square-off-over-stablecoin-bills","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=39384","title":{"rendered":"South Korea\u2019s Political Heavyweights Square Off Over Stablecoin Bills"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">South Korea\u2019s two largest political parties have taken center stage, unveiling rival stablecoin bills in the country. \u00a0The prohibition of interest payments on stablecoins has become the most contentious issue in the stablecoin bills. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Lawmakers from both the ruling Democratic Party (DP) and the opposition People Power Party (PPP) introduced legislation in late July 2025 that could pave the way for won-backed stablecoins.\u00a0<\/span><\/p>\n<p>According to <a href=\"https:\/\/www.newsprime.co.kr\/news\/article\/?no=697862\" rel=\"nofollow\" target=\"_blank\">local news report<\/a> published on 28 July 2025, \u201ct<span dir=\"auto\">he ruling party believes that interest payments should be banned to prevent market disruption, while the opposition party believes that it is necessary to increase the competitiveness of won stablecoins.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Each proposal reflects diverging philosophies on innovation, protection and monetary sovereignty.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f525.png\" alt=\"\ud83d\udd25\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> South Korea introduces legislation for won-backed stablecoin, led by President Lee Jae-myung. Key players Ahn Do-geol and Jin Sung-joon develop framework focusing on financial stability, drawing lessons from Terra-Luna crisis. MOEF and BOK collaborate to ensure regulatory\u2026 <a href=\"https:\/\/t.co\/orJuXDWmfS\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/orJuXDWmfS<\/a><\/p>\n<p>\u2014 BiNodes (@BInodes_) <a href=\"https:\/\/twitter.com\/BInodes_\/status\/1949985312047833558?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">July 29, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" rel=\"\">The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/p>\n<h2><strong>South Korean Bill Is In Response To Growing Dominance Of USD-Based Stablecoins<\/strong><\/h2>\n<p><span dir=\"auto\">Democratic Party of Korea member Ando-geol introduced the \u2018Act on the Issuance and Distribution of Value-Stable Digital Assets\u2019. On the same day, People Power Party member Eun-hye Kim introduced the \u2018Act on Payment Innovation Using Fixed-Price Digital Assets\u2019.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">DP\u2019s initiative is the nation\u2019s first comprehensive legislative blueprint specifically governing Korean won-backed stablecoins. The opposition, PPP, meanwhile filed its own version emphasizing stricter financial discipline and explicitly banning interest payments on stablecoin holdings.<\/span><\/p>\n<p>Newly elected South Korean President Lee Jae-myung has openly advocated for stablecoins, and his administration has\u00a0<a href=\"https:\/\/99bitcoins.com\/news\/south-korean-crypto-industry-hedges-a-win-despite-election-outcome\/\">signalled<\/a>\u00a0that stablecoins will fill major gaps in the country\u2019s financial landscape.<\/p>\n<p>In his advocacy for stablecoins, Jae-myung has\u00a0<a class=\"general-link\" href=\"https:\/\/www.youtube.com\/live\/iKAwP7rfIXw\" target=\"_blank\" rel=\"noopener nofollow\">proposed\u00a0<\/a>the eligibility of companies with reserves as low as 500M won ($370,000) to be able to issue stablecoins.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/south-korea-pauses-cbdc-plans-as-stablecoins-gain-ground\/\">South Korean CBDC Testing Paused as Banks Favour Stablecoins<\/a><\/strong><\/p>\n<h2 class=\"nnbtc-header__title\">South Korea Pauses CBDC Plans As Stablecoins Gain Ground<\/h2>\n<p>Increased market penetration and adoption of stablecoins have put a damper on the South Korean CBDC plans. The country has applied brakes on its CBDC trial program that had been ongoing since April this year in the wake of stablecoin\u2019s resurgence amidst political backing.<\/p>\n<p>The Bank of Korea (BoK) confirmed the current state of affairs in a\u00a0<a class=\"general-link\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/bok-halts-digital-currency-project-pausing-talks-with-banks\" target=\"_blank\" rel=\"noopener nofollow\">statement\u00a0<\/a>given to Bloomberg on 30 June 2025, through a representative.<\/p>\n<p>Also, a senior representative of one of the seven banks participating in the South Korean CBDC trials informed a\u00a0<a class=\"general-link\" href=\"https:\/\/www.yna.co.kr\/view\/AKR20250628052100002?section=search\" target=\"_blank\" rel=\"noopener nofollow\">local publication<\/a>\u00a0that the central bank is holding back until it sees the government\u2019s stablecoin strategy and how CBDCs might integrate with it.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" rel=\"\">Top 20 Crypto to Buy in June 2025<\/a><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/south-koreas-political-heavyweights-square-off-over-stablecoin-bills\/\">South Korea\u2019s Political Heavyweights Square Off Over Stablecoin Bills<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s two largest political parties have taken center stage, unveiling rival stablecoin bills in the country. \u00a0The prohibition of interest payments on stablecoins has become the most contentious issue in the stablecoin bills. Lawmakers from both the ruling Democratic Party (DP) and the opposition People Power Party (PPP) introduced legislation in late July 2025 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-39384","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39384"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39384\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}