2026-01-08 12:30:15

The Korea Financial Services Commission recently introduced a stablecoin regulatory framework, which has attracted considerable attention in the industry. According to the proposal, banks must control more than 50% of the shares, meaning that financial institutions will become the main gatekeepers for stablecoin issuance. Technology companies can participate, but their shareholding ratio must be below that of banks. This design clearly aims to give traditional financial institutions the dominant role.

Interestingly, this proposal faced opposition from the ruling party in the National Assembly, indicating that the stance between the financial regulators and the central bank is not entirely aligned. On one side, the FSC wants to strengthen risk management through bank control, while on the other side, some believe such restrictions are too strict. In addition to stablecoins, the proposal also imposes stricter conditions on cryptocurrency exchanges, suggesting that South Korea's regulators are becoming more cautious about the entire industry.

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SleepyValidator

· 01-10 15:28

Same old story again, do banks really have to suffocate tech companies to feel comfortable? 50% shareholding threshold, basically they’re just afraid of losing control. --- The internal conflict within the government is interesting. FSC wants to proceed, but Congress opposes... Does Korea’s regulatory body even have a clear plan? --- Oh my, things are getting more and more strict. It seems that the path for stablecoins in Korea is about to be completely shut down. --- Speechless. Traditional finance just wants to monopolize everything, while tech companies become mere workers... This framework design is truly brilliant. --- Wait, the ruling party opposes this... What does that mean? A split within the regulators? --- Another country pushing Web3 to the limit. Could it be that the whole world is like this? --- Bank holding exceeds 50%. This isn’t regulation, it’s outright theft. Laughable. --- Is Korea trying to completely kill stablecoins or what? The thresholds keep getting higher.

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JustAnotherWallet

· 01-08 22:49

Does the bank want to hold 50% equity? Isn't this just trying to completely block Web3 players? Traditional finance still doesn't want to relinquish control.

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AlphaBrain

· 01-08 12:56

Here we go again, do banks really have to hold all the cards? Should tech companies be suppressed? This move by South Korea seems a bit conservative, feels like going backwards. Wait, is the ruling party opposing FSC? There really are internal disagreements. Stablecoins should be regulated, but does this kind of approach stifle innovation? If South Korea really locks down the exchange conditions, users will just go to Singapore to play. Traditional finance trying to hold onto their turf is nothing new; after all, Web3 has been too aggressive these past few years.

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AirdropJunkie

· 01-08 12:56

Another new framework for cutting leeks, with banks holding 50% control? Isn't this just about grabbing the lifeline of stablecoins into traditional finance hands? South Korea is also tightening up, it seems the whole world is entering a crackdown mode. The ruling party opposes FSC? Ha, even internally they are not unified, in the end retail investors still suffer. The role of tech companies has been weakened again, I knew it would turn out like this. With this framework in place, who would still dare to play with coins in South Korea?

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LightningHarvester

· 01-08 12:55

Here we go again, banks controlling over 50%? Isn't this just another way to block innovation? Traditional finance still wants to cling to this piece of the pie... Korea is probably going to be criticized to death by the Web3 community this time. Bank dominance = death of innovation, this logic isn't wrong, right? It's a bit outrageous. Tech companies are instead becoming second-class citizens. What kind of rule is this? It's interesting that the ruling party opposes it, indicating that the proposal itself is highly controversial, probably an internal struggle within regulatory agencies. Imposing strict conditions again, making exchanges directly a high-risk industry? Trying to push crypto out of Korea? Banks must hold controlling stakes... Feels like old protectionism. How long can it last?

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CryingOldWallet

· 01-08 12:54

It's the banks calling the shots again, tech companies just playing along—this routine is so old.

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DataOnlooker

· 01-08 12:34

It's the same old trick of banks guarding their turf; tech companies can only be followers? This doesn't look like supporting innovation at all. --- Korea's recent moves are really impressive. The clash between the FSC and the ruling party is quite interesting. --- A 50% shareholding threshold directly locks out tech companies. Wow, this is the standard operation of financial conservatives. --- Basically, they're afraid of crypto getting out of control, so they just let the big banks watch over it. Anyway, they’re shifting all the risks to traditional finance. --- The ruling party opposes the FSC? Such deep internal divisions mean more trouble ahead. --- Exchange requirements are even more stringent... Korea is really planning to tighten control over the crypto space. --- Banks must hold over 50%. That bottom line is set very firmly; traditional finance just doesn’t want to loosen up. --- Interesting. The internal disagreements within the financial sector make the future of stablecoins really uncertain.

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