South Korea's New Crypto Regulations: Stablecoins & Tokenized Assets
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
South Koreas ruling party proposes Digital Asset Basic Act, tightening regulations on stablecoins and tokenized assets. The draft bill labels stablecoins as foreign exchange payment tools, subjecting them to strict oversight. Tokenized assets must be backed by real assets held in trusts under capital markets rules. The bill also blocks stablecoin issuers from paying interest to holders and pushes for tech standards to ensure blockchain interoperability. The move aims to control cross-border cash flows and tie crypto closer to traditional finance, echoing concerns from the Bank of Koreas governor. However, some provisions like limits on exchange ownership and bank mandates for issuers were skipped amid bigger debates. The bill is still in flux and awaits verification through public files.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/024e5ca5636efb4f