Tether, the agency behind the stablecoin USDT, met with officers from the South Korean monetary heavyweight Shinhan Bank on September 8. The South Korean media outlet MoneyS reported that Tether officers are within the nation to attend a home blockchain convention. But the executives are additionally reportedly planning conferences with a spread of home fintech…
Lee Kwang-jae, the previous Secretary-General of the South Korean National Assembly, says Seoul should be certain that KRW-pegged stablecoins are listed on abroad crypto exchanges like Binance and Coinbase. In an interview with Seoul Kyungjae, Lee, presently a distinguished professor at Myongji University, mentioned that abroad merchants should be given entry to the cash if…
South Korean lawmakers have criticized Lee Eok-won, the nominee for the put up of chairman on the Financial Services Commission, for getting shares within the Bitcoin (BTC)-keen US agency Strategy. Per the South Korean media shops Jose Ilbo and News1, Lee Eok-won claimed that he had solely invested in blue-chip US shares “to be able…
South Korean retail traders bought a internet $657 million in Tesla inventory throughout August, marking the most important outflow since early 2023 as merchants pivot towards crypto investments amid rising disillusionment with the electrical automobile maker. According to a Bloomberg report, the dump resulted from waning enthusiasm amongst Tesla’s most loyal international retail base, with…
Crypto advocates, IT specialists, and media shops are involved that lawmakers’ deliberations on South Korea’s stablecoin laws have “slowed to a standstill.” The South Korean newspaper Busan Ilbo reported that each one 4 stablecoin-related draft legal guidelines submitted to the Nationwide Meeting in current months are at the moment caught within the committee stage. The…
The President of the USD Coin (USDC) issuer Circle Heath Tarbert has held stablecoin-themed meetings with some of South Korea’s top bankers. The South Korean media outlet Biznews reported that Tarbert arrived in the nation on August 21. The Circle chief met with the central Bank of Korea (BOK) Governor Rhee Chang-yong the following day….
The Financial Intelligence Unit (FIU), a top South Korean regulator, has begun to reorganizing its anti-money laundering (AML) protocols ahead of the “institutionalization” of stablecoins. The FIU said it will conduct stablecoin-related research via external contractors. It will then compile its findings in December this year before drafting a set of guidelines for stablecoin operators…
Jeju City, in the South Korean island province of Jeju, has completed a crypto-themed investigation of almost 3,000 residents with unpaid tax bills, seizing Bitcoin (BTC) and other coins from dozens of individuals. The South Korean media outlet Newsis reported that tax delinquents in the city have been “lining their pockets with cryptoassets.” Jeju Crypto…
A fresh report by the Korean Center for International Finance (KCIF) states that South Korean nationals who invest in overseas stocks have increasingly pivoted to crypto-tied shares, particularly stablecoins. Retail Korean investors purchasing U.S. big tech shares dropped from a monthly average of $1.68 billion between January and April to $440 million in May, the…
South Korean KakaoBank is reportedly entering the growing stablecoin market with plans to launch a KRW-backed stablecoin this year. The company CFO Kwon Tae-hoon said at KakaoBank’s first-half 2025 earnings call on Tuesday that the bank is “reviewing various methods such as issuance and custody related to the digital asset ecosystem.” “We plan to engage…