South Korea's Democratic Party has established a Digital Asset Committee to develop crypto policies and support industry growth. The committee held its first meeting on May 13, addressing regulatory uncertainty and stablecoin oversight. It includes officials like National Assembly Chairman Min Byeong-deok and executives from exchanges Upbit, Bithumb, Coinbit, and Gopax. Chairman Min criticized the one-exchange-one-bank rule, calling it restrictive. Discussions also focus on whether the Bank of Korea or Financial Services Commission should regulate stablecoins. This follows concerns from a Bank of Korea official about won-backed stablecoins impacting monetary policy.