2025.11.17
Korean Regulators Move Toward Allowing Non-Bank Stablecoin Issuers
South Korea’s Financial Services Commission (FSC) is accelerating legislation for KRW-based stablecoins and is considering allowing qualified non-bank entities—including fintech and big tech firms—to serve as issuers. The Bank of Korea opposes expansion beyond banks, citing risks such as depegging, digital bank runs, and weakened monetary policy control. Despite differing views, regulators are in active consultation, and industry observers expect a compromise framework that balances financial stability with innovation.
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