South Korea's ruling Democratic Party is set to propose a stablecoin bill next week, aiming to formalize the country's digital asset framework by February 2025. This legislative effort, led by the party's Digital Asset Task Force, seeks to balance technological innovation with financial oversight. The bill is expected to enhance consumer protection and market stability, positioning South Korea as a leader in blockchain technology. The task force, chaired by Representative Lee Jeong-mun, plans to draft a compromise bill within a week following a key advisory meeting. The proposal will be submitted to the government and the Financial Services Commission, emphasizing a collaborative regulatory approach. This initiative aligns South Korea with global trends in stablecoin regulation, similar to frameworks in the EU and Japan, and addresses systemic risks highlighted by past stablecoin failures.