[South Korea Plans to Have Banks Lead the Issuance of Won Stablecoins; Exchanges and Payment Platforms to Compete for Deposit and Settlement Market] Odaily reports that the draft of South Korea's "Digital Asset Basic Law," expected to be released this month, proposes that a bank-led consortium be responsible for issuing won stablecoins. However, even if banks are responsible for issuance, exchanges and third-party payment platforms may still handle the circulation link connecting consumers and merchants, making user access and application scenarios key areas of competition. It is understood that the business integration between Upbit's operator Dunamu and Naver Financial may be a significant variable. If the relevant services are approved, Dunamu can generate revenue through stablecoin trading, while Naver Financial is expected to collect fees through merchant payments and settlements. A South Korean financial regulator pointed out that if stablecoins are used for electronic payments, related businesses may need to be subject to the "Electronic Financial Transactions Act," which will clearly define obligations such as the protection of deposit and settlement funds, transaction information management, and dispute resolution. (zdnet)