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South Korea to Introduce Regulatory Framework for Won-Pegged Stablecoins by October
South Korea to Introduce Regulatory Framework for Won-Pegged Stablecoins by October
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BTCCSquare news:
South Korea's Financial Services Commission (FSC) is poised to unveil a comprehensive regulatory framework for won-pegged stablecoins in October. The forthcoming bill, part of the second phase of the VIRTUAL Asset User Protection Act, aims to establish clear guidelines for issuance and distribution.
The FSC has accelerated its efforts to align with global standards, forming a dedicated Virtual Asset Committee last November to refine digital asset legislation. Vice Chairman Kim So-young emphasized the government's commitment to expediting the process, signaling a pivotal shift in South Korea's approach to crypto regulation.
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