The question of who should issue a won-denominated stablecoin has emerged as a key sticking point in deliberations over the tentatively titled Digital Asset Basic Act, government and ruling party officials said Tuesday. The Bank of Korea (BOK) argues that stablecoin issuance should be restricted to consortiums led by commercial banks holding a minimum 51 percent stake, stressing the need to safeguard financial stability. The Financial Services Commission (FSC), by contrast, says opening issuance to nonbank entities, including fintech and blockchain companies, is necessary to spur innovation and invigorate the digital asset industry. The ruling Democratic Party of Korea (DPK) has signaled opposition to the central bank’s so-called 51 percent model, arguing that a bank-centric framework would limit innovation and weaken potential network effects. Rep. Ahn Do-geol said most of the 20 external advisers serving on the party’s digital asset task force also raised concerns about the proposed governance structure. The governing party had originally urged the FSC, the country’s top financi