South Korea Tightens the Reins: New Crypto Bill Mandates Stablecoin Licensing
Seoul cracks down on wild west stablecoins—because nothing says 'financial innovation' like more paperwork.
The Regulatory Hammer Drops
South Korea's latest crypto bill forces stablecoin issuers to play by new rules—or face the music. Licensing requirements now gatekeep the won-pegged digital asset space, aiming to curb the sector's notorious volatility (and occasional outright fraud).
Banking System's New Digital Neighbors
The legislation effectively bridges crypto and traditional finance, requiring stablecoin operators to maintain reserves—just like banks, but with 100% more blockchain buzzwords. Critics whisper this might protect investors—or just protect banks from competition.
Cynic's Corner
Because when has heavy-handed regulation ever stifled innovation? (Answer: Every. Single. Time.)

South Korean lawmaker Min Byeong-deok has introduced a new bill aimed at strengthening crypto regulations. Called the Digital Asset Basic Act, the proposal includes a licensing system for stablecoin issuers. To qualify, issuers must hold over 500 million Korean won (about $367,890) in owner’s capital. Min, a member of the ruling Democratic Party, said the bill is designed to position South Korea as a leader in the global digital economy by setting clearer rules for the crypto space.