• About Us
  • Careers
  • Contact
No Result
View All Result
Sunday, July 27, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Crypto

South Korea’s Opposition Leader Pushes for Won-Backed Stablecoin to Curb Capital Flight

20 May 2025
in Crypto, News
Reading Time: 3 mins read
103 6
source: decrypt.co

source: decrypt.co

South Korea’s opposition leader, Lee Jae-myung, has proposed the creation of a stablecoin pegged to the Korean won, arguing it would help retain national wealth and reduce reliance on foreign digital currencies.

Speaking at a recent policy forum, the Democratic Party chief emphasized that a domestically-issued won-based stablecoin could be a financial shield, strengthening the country’s monetary sovereignty and mitigating capital outflows tied to U.S. dollar-pegged assets such as USDT and USDC.

Under current South Korean regulations, issuing local stablecoins is prohibited, forcing crypto exchanges to rely heavily on dollar-backed alternatives. This dependence has reportedly led to significant capital movement overseas. Between January and March 2025, local exchanges recorded a staggering 56.8 trillion won (approximately $40.8 billion) in asset outflows, nearly half linked to foreign stablecoins.

The stablecoin initiative is one component of Lee’s broader digital asset policy, which also advocates for legalizing spot cryptocurrency exchange-traded funds (ETFs). 

Both Lee and his political counterpart, Kim Moon-soo of the ruling People Power Party, have expressed support for spot crypto ETF approval in South Korea.

Lee’s policy platform also proposes allowing major institutional investors, including the National Pension Fund, to invest in cryptocurrencies, provided certain market stability conditions are met. His strategy further includes implementing an integrated crypto monitoring system and reducing transaction fees to foster adoption under state oversight.

Notably, South Korea’s ruling People Power Party confirmed that the trading of spot digital asset ETFs will be permitted by the end of this year, according to local media outlet Edaily. 

Amid these developments, the Democratic Party officially launched a Digital Asset Committee on May 13, with its first meeting held at the National Assembly Members’ Hall in Seoul. The committee joins other national efforts, including the Virtual Asset Committee formed in late 2024 and a crypto-focused task force established in 2022 by the Financial Services Commission (FSC).

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: South Korea
Share63Tweet40Share11
Favour Okosodo

Favour Okosodo

Experienced web content writer with a strong command of SEO, specializing in creating concise, engaging content that drives traffic and enhances conversions across diverse industries.

Related Posts

source: azfamily.com
Crime

Arizona Influencer Jailed for Aiding North Korean IT Workers in Massive Remote Job Fraud

25 July 2025
source: thenew.money
Ethereum

BitMine Overtakes Rivals with $2 Billion Ether Buying Spree

25 July 2025
source: mashable.com
Crypto

Bybit Partners with Crypto Tax Calculator to Streamline Global Crypto Tax Compliance

25 July 2025
source: claudiasanchezrealestate.com
Business

Christie’s Real Estate Launches Crypto Division to Meet Surging Demand for Property Purchases with Digital Assets

25 July 2025

Featured Posts

What is a Crypto Order Book and How Does it Work?

What is a Crypto Order Book and How Does it Work?

byOlayinka Sodiq
14 July 2025
0

Elon Musk's xAI Colossus: What It Is and Why It’s a Big Deal?

Elon Musk’s xAI Colossus: What It Is and Why It’s a Big Deal?

byOlayinka Sodiqand1 others
12 July 2025
0

Is AI the Future of Crypto Trading or a Threat to Market Stability?

Is AI the Future of Crypto Trading or a Threat to Market Stability?

byOlajumoke Oyaleke
7 July 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Read More

Chain of Thoughts

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Markets Update

Your Weekend Crypto Roundup | July 2025 (Week 3)

1 week ago

Account Abstraction Adoption: Are Users Ready for Smart Wallets?

2 weeks ago

The Role of Real-World Assets (RWAs) in the Next DeFi Boom

2 weeks ago

Stablecoins in 2025: Still Depegging or Finally Stable?

2 weeks ago

Your Weekend Crypto Roundup | July 2025 (Week 2)

2 weeks ago

The Battle for Web3 Infrastructure: Which Platforms are Dominating in Decentralized Storage, Compute, and Identity?

3 weeks ago
Read More

Events

Rare Evo 2025
Rare Evo 2025
6 Aug 25
Las Vegas
CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Pepeto Announces $5.5M Presale and Demo Trading Platform

bychainwire
25 July 2025
0

$75K in Rewards Announced for Valhalla’s First-Ever Tournament

bychainwire
25 July 2025
0

Bybit and Tether Launch Strategic Partnership to Accelerate Crypto Adoption in Brazil

bychainwire
25 July 2025
0

Remittix Presale Raises $17M After Revealing Next-Gen Web3 Wallet Beta Launch Date

bychainwire
25 July 2025
0

BioSig Technologies and Streamex: Pioneering Real-World Asset Tokenization in the U.S. Market

bychainwire
25 July 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00