South Korea's financial regulator will submit stablecoin regulation bill in October

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According to Money Today, the Korean Financial Services Commission (FSC) plans to announce a Korean won stablecoin regulatory bill in October this year, covering issuance conditions, collateral management, and internal risk control, as part of the second phase of the "Virtual Asset User Protection Act". In addition, South Korea's four major banks - Kookmin Bank, Woori Bank, Shinhan Bank, and Hana Bank, plan to meet with Heath Tarbert, the president of Circle, the issuer of USDC, to discuss stablecoin business.

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