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South Korea’s Crypto Bill Unleashes Stablecoin Free-for-All—Banks, Brace Yourselves
South Korea’s Crypto Bill Unleashes Stablecoin Free-for-All—Banks, Brace Yourselves
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Move over, Tether—Seoul just rewrote the rulebook. A new bill greenlights stablecoins as legitimate payment tools, bypassing decades of banking red tape in one legislative swoop.
The fine print? No more ''wild west'' issuers. Only licensed financial firms get to play, with strict reserves and audits. Guess even crypto anarchists love paperwork when it’s their money at stake.
Meanwhile, traditional banks are scrambling. Their monopoly on ''trusted money'' just got a blockchain-shaped hole punched through it. But hey—at least they’ll earn fat fees custodying those reserves. Some disruptions are more equal than others.
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