South Korea's Democratic Party is preparing to advance legislation on stablecoins following the June local elections. Kim Hyun-jung, a member of the party's Digital Assets Task Force, indicated that the Digital Assets Framework Act, which includes stablecoin regulations, is expected to be submitted after the elections. The legislation aims to regulate the entire digital asset ecosystem, covering aspects such as issuance, circulation, disclosure, and listing. While internal consensus on certain regulatory issues, like bank-led conglomerates' equity stakes in digital asset exchanges, has not been reached, the party remains optimistic. Bank of Korea Governor Shin Hyun-song's positive stance on stablecoins suggests that progress on the legislation is likely.