Ahn Do-geol "Must build a 'stablecoin highway'… core driving force of the digital economy" [EastPoint 2025]

Suehyeon Lee

Summary

Ahn Do-geol said stablecoins will be the core driving force of the digital economy and emphasized the importance of a balance between regulation and innovation.
Ahn stressed the need for investor protection and risk mitigation measures such as stable custody of reserve assets, issuers' financial soundness, and real-time monitoring systems.
He said that, as Korea is a latecomer in the stablecoin market, a trustworthy regulatory framework and swift institutionalization are crucial to capturing innovation opportunities.

Ahn Do-geol, lawmaker of the Democratic Party of Korea

Discussed 'digital asset regulation' at 'EastPoint'

Stablecoins: balance between regulation and growth is important

Risks should be addressed through technological progress

Korea is a latecomer… rapid institutionalization is needed

Ahn Do-geol, a lawmaker of the Democratic Party of Korea, speaks at a panel discussion titled 'Balancing Regulation and Growth: Designing Rational Regulations for Digital Assets' at 'EastPoint Seoul 2025' held on the 22nd at the Grand Hyatt Seoul in Yongsan-gu, Seoul. / Photo=Hashed

"As our economy rapidly transitions to a digital economy, the core driving force will be stablecoins. We must properly build the highway for the new growth that stablecoins will create."

Ahn Do-geol, lawmaker of the Democratic Party of Korea (photo), said this on the 22nd at the Grand Hyatt Seoul in Yongsan-gu, Seoul, at the global Web3 private conference 'EastPoint Seoul 2025'. Ahn took the stage at the event and participated in a panel discussion titled 'Balancing Regulation and Growth: Designing Rational Regulations for Digital Assets' alongside Sandra Ro, CEO of the Global Blockchain Business Council (GBBC), and Hasib Quirency, managing partner at Dragonfly.

Ahn emphasized that the stablecoin regime must strike a balance between regulation and innovation. He said, "The stablecoin bills currently proposed commonly focus on maximizing the innovation and growth opportunities that stablecoins can bring to the Korean market," adding, "Risky elements and investor protection aspects should be addressed through institutional measures or technological advances that can mitigate them."

He also stressed, "It is necessary to ensure the stable custody of reserve assets, secure the financial soundness of issuers, and establish a regular disclosure system, and a smart contract-based real-time monitoring system should be introduced to prevent stablecoins from becoming channels for illicit money laundering."

He emphasized that, as Korea is a latecomer in the stablecoin market, it must quickly seize opportunities for innovation. Ahn said, "Korean consumers are familiar with the internet environment and IT technology, so they will quickly adopt digital currencies and blockchain technology," adding, "We must create a regulatory framework that can make stablecoins trustworthy while ensuring technological progress and institutionalization proceed swiftly."

When asked whether he agreed that stablecoins are in a competitive relationship with the traditional financial system, he replied, "Yes. It is because they seek to fill gaps in the existing bank-centered payment networks," adding, "This competition will ultimately increase efficiency and benefit financial consumers." He went on to say, "From the moment consumers feel the benefits, the existing financial sector will have no choice but to accept stablecoins," and predicted, "Thanks to their strong advantages, stablecoins will ultimately dominate the market."

Earlier, in July, Ahn sponsored the stablecoin bill as lead proposer. The bill is evaluated as the country's first comprehensive statutory law to institutionalize stablecoins within the national monetary order and financial system, as it designs an overall management framework covering issuance, distribution, reserve assets, user protection, and monetary and foreign exchange policy.