Stablecoins to Be Excluded From Corporates’ Crypto Investment Scope?… FSC Says “Groundless”

South Korea’s Financial Services Commission (FSC) drew a line against reports that it has decided to exclude stablecoins—cryptoassets pegged to fiat currencies—from the types of virtual assets (cryptocurrencies) that corporates would be permitted to invest in.

An FSC official said on the 7th to Blockchain Today that reports claiming a consensus had been reached to exclude stablecoins from the permitted investment scope under the corporate virtual-asset trading guidelines were false.

Earlier, one media outlet reported that, under the “Corporate Virtual-Asset Trading Guidelines” being prepared by the FSC, listed companies and corporates registered as professional investors would be allowed to trade virtual assets, but that the regulator was leaning toward excluding stablecoins such as Tether (USDT) and USDC from the eligible investment universe.

The FSC, however, said that no decision has been made on whether to permit investment in any specific virtual asset.