South Korea’s largest political party is urging the government to fast-track the institutionalization of Korean won-pegged stablecoins, taking inspiration from the Trump administration’s recent stablecoin legislation. According to local media Edaily, lawmakers from the Democratic Party are calling for regulatory frameworks to support KRW-backed stablecoins. Min Byeong-deok, chairman of the ...
South Korea is gearing up for a more regulated digital asset market as it prepares to welcome institutional players. On May 20, the Financial Services Commission (FSC) unveiled a comprehensive set of new rules aimed at tightening oversight of cryptocurrency sales and listings, particularly for nonprofit organizations and virtual asset ...
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 ...
South Korea’s central bank calls for clear legal authority over the issuance of stablecoins pegged to the Korean won, cautioning that their unregulated use could disrupt the country’s monetary policy framework. According to a senior official at the Bank of Korea (BOK), monetary authorities must be involved from the outset ...
In the first quarter of 2025, South Korea witnessed significant cryptocurrency outflows totalling nearly 57 trillion won, with dollar-based stablecoins making up almost half the total. This data, sourced from the Financial Supervisory Service and revealed by Democratic Party lawmaker Min Byung-duk, highlights the growing trend of capital migration from ...
South Korea’s Democratic Party leader and presidential frontrunner, Lee Jae-myung, has vowed to legalize spot cryptocurrency exchange-traded funds (ETFs) and introduce a range of crypto-friendly policies if elected in the upcoming June 3 presidential race. Lee unveiled his pro-crypto agenda on May 6, aiming to appeal to younger voters by ...
Starting in June 2025, South Korea's financial authorities will permit non-profit organizations and cryptocurrency exchanges to engage in unrestricted cryptocurrency trading. This regulatory update aims to enhance transparency and promote growth in the nation's digital asset sector. The Financial Services Commission (FSC) announced that registered non-profit entities and licensed exchanges ...
South Korea's ruling People Power Party has confirmed that the trading of spot digital asset ETFs will be permitted by the end of this year, according to local media outlet Edaily. For the first time, this development will allow domestic investors to gain exposure to major cryptocurrencies like Bitcoin and ...
South Korean cryptocurrency exchange Bithumb is under scrutiny after a lawmaker accused the platform of misleading users into paying higher transaction fees than advertised through deceptive design tactics. According to The Maeil Business Newspaper, Representative Kim Jae-sup of the People’s Power Party revealed that Bithumb raked in an additional 140.91 ...
Korea Digital Asset (KODA), South Korea’s largest institutional crypto custody service, is upgrading its anti-money laundering (AML) system to strengthen compliance ahead of new regulatory requirements. Established by Kookmin Bank, blockchain firm Haechi Labs, and investment company Hashed, KODA plays a key role in securing cryptocurrencies for major global clients. ...
