The GENIUS Act Effect: South Korea Is Now Fast-Tracking Its Own Crypto Regulations
Main Idea
South Korea's ruling party is fast-tracking new Bitcoin and crypto regulations in response to the U.S. GENIUS Act, aiming to align with global standards and improve market transparency.
Key Points
1. South Korea’s Democratic Party plans to fast-track crypto regulations following the U.S. GENIUS Act, seeking alignment with major economies.
2. The country is developing a won-backed stablecoin for day-to-day use, fully collateralized by won reserves.
3. New regulations will focus on stablecoins, exchanges, and investor protection, overseen by the Financial Services Commission.
4. Over 25% of South Koreans aged 20 to 50 own digital assets, with 70% planning to increase their investments.
5. South Korea’s regulatory approach is influenced by international models like the EU’s MiCA law and the GENIUS Act.
Description
South Korea’s ruling party will fast-track crypto laws in response to the U.S. GENIUS Act. Korea Investment and Securities is developing a won-backed stablecoin for local payments. Over 25% of South Koreans aged 20–50 own crypto, pushing lawmakers to define investor protection and tax rules. South Korea’s ruling Democratic Party plans to fast-track new Bitcoin and crypto regulations. The decision follows the United States’ adoption of the GENIUS Act, which set a clear framework for digital asset...
Latest News
- BNB (BNB) Price Prediction for July 242025-07-23 12:18:08
- Ethereum (ETH) Price Prediction for July 242025-07-23 11:56:01
- A Green Light, Then a Red Light: Why the SEC Is Pausing New Altcoin ETFs2025-07-23 10:57:44
- XRP Eyes Major Breakout: Will It Conquer ‘The Chasm’?2025-07-23 10:05:37
- ‘Safe Haven’ Gold Is Winning the Fight Against ‘Risk-On’ Crypto2025-07-23 09:49:14