📈 Bank of Korea Against Stablecoins from Non-Bank Institutions
The Governor of the Bank of Korea, Lee Chang Yong, expressed concerns about the introduction of stablecoins tied to the South Korean won from non-banks. He believes this could lead to confusion in monetary policy and currency regulations, similar to what happened in the 19th century in the United States. In the case of mass issuance of such assets, it will be difficult for the Bank of Korea to manage the economic situation.
New rules on the horizon: work is underway on legislation to regulate stablecoins.
#Stablecoins
