South Korea to Unveil Won Stablecoin Bill in October

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South Korea is reportedly preparing to introduce a regulatory framework for a won-backed stablecoin, with its financial regulator set to introduce a government bill in October.

On Monday, South Korean news portal MoneyToday reported that the Financial Services Commission (FSC) will unveil the bill as part of a second phase of the nation’s Virtual Asset User Protection Act.

Democratic Party of Korea (DPK) Representative Park Min-kyu said during a policy debate that he received a briefing from the FSC on the policy direction on stablecoins. “The…



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South Korea to Unveil Won Stablecoin Bill in October


South Korea is reportedly preparing to introduce a regulatory framework for a won-backed stablecoin, with its financial regulator set to introduce a government bill in October.

On Monday, South Korean news portal MoneyToday reported that the Financial Services Commission (FSC) will unveil the bill as part of a second phase of the nation’s Virtual Asset User Protection Act.

Democratic Party of Korea (DPK) Representative Park Min-kyu said during a policy debate that he received a briefing from the FSC on the policy direction on stablecoins. “The…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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