The ruling party and the opposition party in South Korea have significant differences over the stablecoin regulation bill.

Odaily News South Korea’s ruling party and opposition party submitted stablecoin regulation bills on Monday, revealing significant differences regarding whether to prohibit interest payments to users. The bill proposed by Democratic Party member Ahn Doo-jun explicitly prohibits stablecoin interest payments and requires issuers to provide 100% reserve support, with a minimum capital of 5 billion won; however, ruling party member Kim Eun-hye did not limit interest payments, emphasizing the promotion of innovation and enhanced information disclosure. Both proposals grant regulatory authority to the Central Bank of Korea. (Decrypt)