New Bills in South Korea Propose Capital Requirements for Stablecoin Issuers
2025-07-02 15:02:20
Main Idea
South Korea is proposing new capital requirements for stablecoin issuers to prevent market instability and consumer harm, with two draft bills under consideration.
Key Points
1. Two draft bills propose minimum capital requirements for stablecoin issuers: one suggests 500 million won (~$360,000), and another suggests 1 billion won (~$720,000).
2. The regulations aim to prevent market instability and restrict undercapitalized firms from issuing stablecoins.
3. South Korea's ruling party denies claims of planning a state-backed stablecoin, calling them 'groundless.'
4. Upbit, a Korean crypto exchange, is partnering with Naver Pay to introduce a stablecoin for digital payments and faster on-chain transactions.
Description
South Korea is accelerating efforts to regulate stablecoins, with new capital requirements under discussion. Two proposed bills would require issuers to maintain a minimum capital of 500 million to 1 billion won. Authorities are aligning South Korea’s approach with international standards set by the U.S., EU, and Japan. South Korea is tightening its focus on stablecoin regulation. Yesterday, the National Planning Committee summoned financial regulators to assess current oversight and propose mea...
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