ChainCatcher message, according to Newsis, earlier this month, South Korea's ruling party called on various ministries and the Financial Services Commission (FSC) to submit a regulatory bill for the Korean won stablecoin by December 10, but the FSC failed to submit the bill on time.

An FSC spokesperson stated that the FSC needs more time to coordinate positions with related agencies, and that it is better to announce their proposal when submitting the bill to the National Assembly rather than rushing to complete the proposal before the set deadline. The FSC described this move as a way to protect the public's right to be informed about this matter.