The new administration of South Korea intends to allow the issuance of stablecoins pegged to the national currency. This move is aimed at strengthening the country's independence from foreign assets, writes The Block.
Deputy Min Ben Dok, who was responsible for digital assets in the presidential election headquarters of Lee Jae-Myung, has already proposed a bill for licensing issuers of 'stablecoins'. According to him, this will reduce dependence on the US dollar.