The Democratic Party of Korea (DPK) and people of the power party (PPP) is reported a collision after launching two-term Stablecoins in the country of Korean, and two different debt in the key.
South Korea’s national convention is divided
On Monday, South Korean groups and opposition groups propagate the uniform control framework.
The DPK Ahn Do-Gil member has been used to “make the issue and dissemination of stable digital assets.” At the same time, the Eun-Hye PPP has proposed “the action of renewal is used by digital material repaired.”
According to local reports, both debts shared several similarities, including a star for a star at the Finance Commission (FSC). Under these two rules, the financial administration will be able to use methods regarding the issuance, distribution, and redemption of the stablcoins and set emergency rules if it is concerned with market disruption or injury to users.
In addition, issuers will be required to submit a white paper to the FSC before issuing, explaining the release of the issuing, deduction system, the structure structure, and redemption systems.
However, the Department of Economic and Finance and Korean Bank (Bok) will be able to request information from FSC or Integrated Testing to maintain the Offer Exchange Market Order or applying a financial policy.
DPK lawyer also proposed the establishment of the “Number of Digital Finance Reporting” with the Department of Economic and Finance, Korean bank, and the FSC to discuss related policies.
Despite Bill’s similarities, these two proposed rules vary on interest rates. The PPP Lawmaker bill will allow interest payments as possible “provide motivities to use the stablcoins with the winners of the winners.” At that time, Ahn’s illusion will completely prevent interest payments to prevent market interruption.
According to the report, some industrial players look for a unique way in the KRW-based technique, as “a stable of stablecoins is the balance of their US laws,” the Crypto industrial representative is reported to ensure.
The Financial Center expects Stablecoins Act
During the growing pressure of stablcoins in the country, Min Byeong-Dook, DPK member, which proposed a full rule Crypto Control of the Crypto Executives.
Nevertheless, Yong’s Sovereign has recently expressed concern about the existing stablcoins entering non-banking organizations, oppose the digital assets to confuse the financial policies and external exchange rules.
Some banking officials told Korean media that financial institutions were preparing two legal conditions, because it does not specify that non-banking businesses will be allowed to become stablecoin.
Since the Bitcoinist reports, the sector processes the business model where banks establish a joint profit of stablcoins, while contacting the various non-bank companies to prepare for legal ciling and the issue of KRW digits.
On Tuesday, Mail Business newspaper said the credit card industry is preparing to apply for commercial rights. According to the issuing issues, credit card companies and credit card companies, including Shinhan, Hyundai, Woori, Woori, BC Card, is preparing to enter the KRW StableCoin rights.
“Credit card companies are expected to play an important role in the KRW StableCoin market. When the marketing of the consumer, customers can use without payment,” said the report.
Bitcoin (BTC) trades at $117,505 in the one-week chart. Source: BTCUSDT on TradingView
Picture included from Anenscassh.com, Chart from Ineartview.com
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