[South Korea Delays Second Phase of 'Virtual Asset Act' Due to Disputes Over Stablecoin-Related Provisions] According to Techinasia, the legislative process for the second phase of South Korea's 'Virtual Asset Act' has been delayed due to disputes over key provisions. The bill aims to comprehensively regulate digital assets, including stablecoins. The main points of contention focus on two aspects: first, the eligibility of issuers for Korean won-based stablecoins, specifically whether issuance should be led by banks or authorized enterprises; second, whether the restrictions on the separation of financial and virtual asset businesses should be relaxed to encourage innovation. Additionally, the proposal to set a 15%-20% cap on the shareholding of major shareholders in exchanges has been criticized as overly restrictive. Due to the legislative delay, discussions on related topics, such as spot virtual asset ETFs and the involvement of listed companies in virtual asset trading, have also been put on hold. Currently, negotiations are ongoing among government agencies, industry participants, and political groups.