[South Korean Government Accelerates Stablecoin Legislation, Plans to Lift Ban on Financial Institutions Holding Crypto Company Equity] According to Edaily, Kim Sung-jin, head of the Virtual Assets Division at the South Korean Financial Services Commission, stated during a parliamentary meeting that the government is simultaneously advancing legislation related to stablecoins (Phase 2 of the Basic Digital Assets Act) and institutional investor participation. The Financial Services Commission has pledged to complete digital asset legislation within the year. If institutional participation is realized, the nine-year ban on financial companies holding equity in crypto enterprises (administrative guidance implemented since 2017) is expected to be lifted this year, allowing banks, securities firms, and other financial institutions to engage in virtual asset investments. Kim also revealed that research is underway to introduce mechanisms similar to stock market institutional brokers and over-the-counter trading intermediaries into the virtual asset market. Additionally, referencing the European Union's approach, the government is considering simplifying entry requirements for financial institutions into the virtual asset industry for business areas with similar functions.