Internet reports that South Korea's new President Lee Jae-myung is quickly fulfilling his campaign promise to allow local companies to issue stablecoins, further boosting one of the world's most active digital asset markets. Li Zai-ming has publicly supported the adoption of stablecoins. On Tuesday, Li Zai-ming's ruling Democratic Party proposed the Basic Law on Digital Assets, which aims to increase transparency and encourage competition in the cryptocurrency industry. Under the bill, South Korean companies can issue stablecoins if they have at least 500 million won (US$367,876) in equity and ensure refunds are guaranteed through reserves. South Korea is already a greenhouse for cryptocurrency activity, with more than one-third of the population (approximately 18 million people) participating in the digital asset market. Sometimes, the trading volume of domestic cryptocurrency exchanges even exceeds South Korea's Seoul Composite Index and Korea's Growth Enterprise Market Index (KOSDAQ) Index. A stablecoin is a cryptocurrency pegged to another asset, usually the U.S. dollar. (Jin Shi)