South Korea Proposes Stablecoin Licensing in New Crypto Bill
Key Notes
- Min Byeong-deok from the South Korean Democratic Party has unveiled a new bill to establish a further crypto regulatory framework.
- The new bill aligns with the Virtual Asset Investor Protection Act, the existing crypto rule in South Korea.
- Stablecoin traction is growing globally, especially with the push for the GENIUS and STABLE Acts.
South Korea has taken new steps to boost its crypto regulation with a new stablecoin bill. On Tuesday, Min Seok, a lawmaker from the Democratic Party in the region, unveiled the bill, which includes a new licensing regime for stablecoins.
A licensing regime for stablecoin issuers
During a press conference, Seok discussed the Digital Asset Basic Act bill. In his opinion,…
