Summary
- South Korea's Financial Services Commission said it will move quickly to complete legislation on stablecoins.
- Edaily reported that Yoo Young-jun, the FSC's director general for digital finance policy, said the regulator would "finalize stablecoin legislation as soon as possible."
- Yoo is responsible for the second phase of the Digital Asset Basic Act covering stablecoins, and this was his first public comment on the issue this year.
Forecast Trend Report by Period
South Korea's Financial Services Commission said it will move quickly to complete legislation on stablecoins.
Yoo Young-jun, the FSC's director general for digital finance policy, said at the Korea Strategic Economy Forum in Seoul on July 21 that the regulator would "finalize stablecoin legislation as soon as possible," according to Edaily.
The forum was hosted and organized by the Ministry of Finance and Economy and the Korea Institute for Industrial Economics & Trade.
Yoo is responsible for the second phase of the Digital Asset Basic Act, which covers stablecoin-related legislation. It was the first public comment this year on stablecoin legislation by the senior FSC official overseeing the bill.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.