South Korea's ruling party is set to pass the "Digital Asset Basic Law" by January 2026, aiming to establish a "Korean-style stablecoin" with a consortium structure. Under the proposed framework, banks will hold a majority stake of at least 51%, while technology companies can participate as minority shareholders. Democratic Party representative Kang Jun-hyeon has set a deadline of December 10th for the government to submit its proposal. If the Ministry of Finance does not meet this deadline, lawmakers plan to introduce an independent version of the bill.