South Korea’s Stablecoin Legislation Hits Roadblock As FSC Misses December 10...
South Korea’s government has reportedly missed the deadline to submit its highly anticipated stablecoin legislation, risking a delay of the second phase of the country’s regulatory efforts to align with global standards and foster innovation. Related Reading: Chainlink and Mastercard Join Swapper Finance To Bring Direct Deposits To 3.5B Users FSC Misses Key Deadline Amid […]
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South Korea’s long-awaited stablecoin legislation risks being delayed until next year, as financial authorities brawl with the Bank of Korea (BOK) over the role of banks in the sector. Related Reading: Web3 Monetization, AI, and Maye Musk Take Over the Crypto Content Creator Campus 2025 BOK, Financial Regulators In Disagreement On Tuesday, Korea JoongAng Daily […]
South Korea’s financial authority is expected to release the long-awaited regulatory framework next quarter, offering clear guidelines for the issuance and distribution of won-pegged stablecoins. Related Reading: Crypto Clampdown: South Korea’s Jeju City Goes After Suspected Tax Evaders Stablecoin Guidelines By October On Monday, local news media outlets reported that South Korea’s financial regulator, the […]
KakaoBank, the digital bank under South Korea’s IT giant Kakao, has reportedly started the development phase of its Won-pegged stablecoin project in preparation for the upcoming advances of key crypto-related legislation in the country. Related Reading: Web3 Monetization, AI, and Maye Musk Take Over the Crypto Content Creator Campus 2025 KakaoBank’s Stablecoin Development ‘In Full […]
The country’s president elect is proving his crypto savvy by declaring there will be no tax on crypto investment gains until legislation can ensure consumer protections. South Korea’s newly-elected president Yoon Seok-yeol announced Tuesday he would push to defer taxation on crypto investment gains at least until a new set of regulations called the Digital Asset Basic Act is enacted.South Korea’s crypto tax was initially set to come into effect for the 2022 fiscal year, but was pushed back to 2023 last December. E-daily reported that Yoon will ensure the crypto tax law does not come into....
As the South Korean crypto industry awaits the highly anticipated regulatory framework, digital assets custodian BDACS and financial giant Woori Bank have partnered to launch the first stablecoin pegged to the Korean Won (KRW) on the Avalanche blockchain. Related Reading: US House Pushes To Combine Anti-CBDC And Crypto Market Structure Bills First Won-Pegged Stablecoin Launched […]