ChainCatcher Message, the Korea Financial Services Commission (FSC) has shifted its stance to support the Bank of Korea’s (BOK) stablecoin regulation proposal. The plan requires stablecoins to be issued by a bank-led consortium, with the bank’s combined shareholding exceeding 50% to maintain control. Although technology companies can become the single largest shareholders, their shareholding ratio must still be below the overall bank holdings.
However, this plan faces opposition in the National Assembly from legislators such as the ruling Democratic Party, highlighting disagreements between the ruling party, financial regulators, and the central bank. The proposal also imposes stricter requirements on cryptocurrency exchanges, including higher IT stability standards, mandatory compensation for hacker losses, and fines up to 10% of annual revenue.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
