South Korea's Cryptocurrency Law Delayed due to Stablecoin Debate

The Stablecoin Dispute Continues in South Korea

South Korea's anticipated Digital Asset Basic Law is delayed due to disagreements over stablecoin issuance authority. In this context, the Bank of Korea advocates that stablecoins should only be issued by banks with at least 51% ownership.

On the other hand, the Financial Services Commission (FSC) warns that this could hinder innovation. This disagreement between the two institutions means that the law may be delayed in passing through the National Assembly until January.

It appears that the full implementation of the law may not be possible until 2026. This uncertainty poses a significant issue for investors and constitutes a critical topic for those monitoring developments in the markets.