PANews reported on August 18th that according to The Block, South Korea's Financial Services Commission plans to submit a stablecoin regulatory bill to the legislature in October, covering issuance, collateral management, and risk control requirements. The bill will be included in the second phase of the digital asset legal framework. South Korea's four largest banks may meet with Heath Tarbert, president of Circle, the issuer of USDC, next week to discuss stablecoin cooperation. Japan is also expected to approve the issuance of its first yen-denominated stablecoin in the fall.