[South Korea Plans to Restrict Stablecoin Issuers to Consortia with 51% Bank Ownership] During the second phase of legislative efforts for the 'Basic Act on Digital Assets,' the South Korean government and National Assembly plan to restrict stablecoin issuers to consortia with 51% bank ownership. The current proposal grants stablecoin issuance rights to consortia with 51% bank ownership, and the Digital Assets Special Task Force of the Democratic Party of Korea has essentially decided to adopt this plan. Previously, the Bank of Korea advocated for a bank-led and bank-system-exclusive approach, while some lawmakers suggested opening issuance rights to fintech and blockchain companies. The government’s version of the bill must be submitted by December 10 at the latest, with the goal of initiating discussions within the year and completing legislation by January next year.