PANews reported on December 1st that, according to Cryptopolitan, South Korean lawmakers plan to fully pass the "Digital Asset Basic Law" by January 2026. This bill will establish a "Korean-style stablecoin" with a consortium structure, in which banks will hold at least 51% of the shares, and technology companies can participate as minority shareholders. Democratic Party representative Kang Jun-hyeon set the deadline for submitting the government proposal for December 10th. The lawmaker warned that if the Ministry of Finance fails to complete the proposal on time, lawmakers will submit an independent version.