South Korea digital asset bill stalls over stablecoin oversight
South Korea's government is facing challenges in introducing a digital asset law due to disagreements over stablecoin oversight and shareholder limits in virtual asset exchanges. Lawmakers are focused on the management and supervisory framework for stablecoins post-issuance. Previous discussions centered on who can issue stablecoins and the required reserve assets and prudential measures for issuers. However, concerns have arisen regarding insufficient dialogue on monitoring stablecoins to prevent money laundering and illegal transactions once in circulation. The Financial Services Commission plans to submit the proposal to the National Assembly this month, but the timeline for the bill's introduction remains uncertain as key issues are unresolved.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Danish Central Bank Warns of Financial Risks from Expansion of Dollar-Pegged Stablecoins

Choi Won-seok, CEO of Finiverse, Proposes Use of Won Stablecoin for SME Trade Settlements

Payy Launches Stablecoin Refund Mechanism Finality

PYUSDx Achieves $100 Million in Transaction Volume, Launches with PayPal, M0, and MoonPay

Wirex Integrates Tempo to Support Corporate Stablecoin Card Settlements

IOSG Ventures Invests in Crypto Payment Company Immersve

Coinbase CEO Says Clarity Act Vote Results Will Benefit the Crypto Industry

Privy Launches Stablecoin Card Pre-Fabricated Component, Expanding from 25 to 100 Markets by Year-End

KRWQ Removes Tokenized Korean Government Bond Reserve Assets

Tether Freezes $45 Million USDT Related to Xinbi

Cosmos Launches Tokenization Network with 17 Companies and Institutions

Crossmint and Tala Launch On-Chain Credit Wallet in Mexico

Visa: Stablecoin Settlements Reach $20 Billion

Tower Exchange Selected for Arc Accelerator Program, Team Expands to 12 Members

Hong Kong Lawmaker Proposes Establishment of Dedicated Digital Asset Department at SFC

OSL Partners with Waka to Promote Trade in Emerging Markets with Stablecoin Settlements

Polkadot Launches Native Stablecoin dotUSD with Initial Funding of $5 Million

Voting Begins for XRP Ledger Permission Delegation Amendment

Visa Develops $2.5 Billion Blockchain Credit Model

AI agents execute 4.5 million transactions on XRP Ledger, settle 5836.71 XRP

Visa and Brale Conduct SBC Settlement Test on Canton Network

Tether CEO Emphasizes Regular Audits and Response to U.S. Regulations

Chelsea's USDC Jersey Print Raises Concerns from Hong Kong Monetary Authority

Visa Stablecoin Card Payments Surge 200%, Exceeding 160 Programs

Visa Secures Card Payment Funds with Stablecoins

Uzbekistan Launches Pilot Project with HUMO Stablecoin

RedotPay Completes Independent Assessment of AML/CFT by Four Major Audit Firms

Swiss Franc Stablecoin Sandbox Enters Testing Phase with Participation from SIX and TWINT

House Foods Launches Campaign to Gift JPYC to 100 Winners






