South Korea's ruling Democratic Party has mandated the Financial Services Commission (FSC) to present a stablecoin regulation proposal by December 10. The party cautioned that missing this deadline could prompt legislative action in the National Assembly. Discussions have included the possibility of forming a bank-led consortium to oversee stablecoin issuance, with banks potentially holding a majority stake. In a related development, Japan is advancing new regulations to safeguard crypto investors, requiring exchanges to maintain reserves to cover potential losses.