Bank of Korea Calls for Phased Stablecoin Implementation, Starting with Banks
The Bank of Korea (BOK) has proposed a structured framework for stablecoin issuance, with regulated banks serving as the initial gatekeepers.
The Bank of Korea (BOK) has proposed a structured framework for stablecoin issuance, with regulated banks serving as the initial gatekeepers.
South Korea’s Financial Services Commission (FSC) has drafted a plan to permit spot crypto ETFs, with implementation expected in late 2025.
South Korea’s newly elected president, Lee Jae-myung, is pushing forward with his campaign pledge to authorize the issuance of domestic stablecoins, as his party introduces a new cryptocurrency bill.
In a decisive rebuke to political instability, South Korean voters elected pro-crypto reformist Lee Jae-myung as president.
South Korea is tightening its regulations on digital asset transactions as it prepares for institutional players to enter the crypto market.
Lee Jae-myung, leader of South Korea’s Democratic Party, has recommended creating a stablecoin tied to the Korean won to tackle capital outflows and reinforce national financial sovereignty.
South Korean regulators are intensifying their efforts against digital asset firms by requesting that Apple block access to 14 apps domestically.
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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