According to CoinMeta, Min Byeong-deok, a member of the Democratic Party of Korea, stated that the Basic Act on Digital Assets of Korea is expected to be finalized in early January next year, with efforts made to complete the legislation before the expected official implementation of the US stablecoin regulations on January 18th. Regarding the issuance of won-based stablecoins, Min Byeong-deok opposes using a requirement that banks hold 50% plus one share as a condition for entry, advocating that issuers must meet requirements such as holding 100% in reserve assets, providing instant redemptions, implementing anti-money laundering measures (AML), and conducting customer identity verification (KYC). In addition, he proposes to postpone the taxation of digital assets by two years to 2029, allow for the carryforward of investment losses to offset earnings in the following three years, and establish a Digital Assets Committee directly under the President.