A call has emerged at South Korea’s National Policy Committee for an urgent public hearing on a basic law for digital assets. Democratic Party lawmaker Min Byoung-dug said on Aug. 26 that legislation covering stablecoins (digital tokens designed to maintain a stable value) and digital financial innovation should not be delayed further. He argued that a hearing was especially necessary because the proposed digital asset basic law would be a new standalone law. Min pointed to U.S. efforts to create a legal framework for stablecoins and the inflow into South Korea of won-denominated stablecoins issued overseas as reasons to speed up the process.