The South Korean Democratic Party will restart the Digital Asset Special Working Group after completing the leadership restructuring in August, and plans to propose the Digital Asset Basic Law bill in September, with the goal of completing legislation within the year. Democratic Party member Park Min gyu stated that the content and submission time of the bill will be coordinated by the National Assembly, the Presidential Office, and relevant departments, and discussions will begin as early as early September. In addition to clarifying the issuer of stablecoins, the bill also needs to improve market structure, security, and regulatory systems, and establish a localized digital asset system. Min Byung deok, a member of the Democratic Party, proposed to develop the Korean won stablecoin as a payment and settlement tool to support the overseas development of South Korean culture, commerce, tourism, and manufacturing industries. (Etoday)