South Korea’s financial authorities are preparing legislation for a legal framework governing won-denominated stablecoins and plan closer coordination with the Bank of Korea and the Ministry of Economy and Finance. Yoo Won-gyu, an official in the virtual asset division at the Financial Services Commission, said authorities broadly agree on forming a consultative body involving the FSC, the finance ministry and the central bank. The discussions are part of broader second-phase work on the Digital Asset Framework Act, with lawmakers examining overseas regulatory precedents. Authorities also plan safeguards including bankruptcy remoteness, which would keep customer assets separate and preserve their ability to recover funds if an institution encounters financial problems.