South Korea Plans to Allow Banks and Non-Bank Institutions to Jointly Issue KRW Stablecoins

ChainCatcher news, according to News1, the Korean National Policy Planning Committee is considering granting the right to issue Korean won stablecoins to consortiums composed of banks and non-bank institutions, with related regulation and licensing to be overseen by the Financial Stability Council.

This initiative aims to combine the stability of banks with the innovation of fintech companies, and the relevant bill is expected to be promoted by the Financial Services Commission in October.

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