tldr; South Korea’s Bank of Korea Deputy Governor Ryoo Sang-dai suggested that stablecoin issuance should begin with banks due to their higher financial regulation, before expanding to non-banking sectors. This approach aims to address concerns over capital outflows and monetary sovereignty amid growing digital asset trading. President Lee’s administration prioritizes stablecoin regulation, introducing the Digital Asset Basic Act to allow won-backed stablecoins issuance. The BOK is also exploring hybrid models for stablecoins and deposit tokens.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; South Korea’s Bank of Korea Deputy Governor Ryoo Sang-dai suggested that stablecoin issuance should begin with banks due to their higher financial regulation, before expanding to non-banking sectors. This approach aims to address concerns over capital outflows and monetary sovereignty amid growing digital asset trading. President Lee’s administration prioritizes stablecoin regulation, introducing the Digital Asset Basic Act to allow won-backed stablecoins issuance. The BOK is also exploring hybrid models for stablecoins and deposit tokens.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.