South Korea’s long-awaited crypto law stalls over who can issue stablecoins

South Korea's anticipated cryptocurrency legislation has hit a roadblock due to disagreements over which entities should be authorized to issue stablecoins. The proposed law aims to regulate the growing digital asset market but has faced delays as lawmakers debate the qualifications and responsibilities of stablecoin issuers. Key stakeholders, including financial authorities and industry representatives, are involved in discussions to reach a consensus. The stalling of the law has raised concerns about the regulatory environment for cryptocurrencies in South Korea. As a result, the future of stablecoin issuance remains uncertain in the country.

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