South Korea Enacts New Stablecoin Regulations, Setting Capital Threshold for Issuers

South Korea has proposed a landmark cryptocurrency bill aimed at regulating stablecoins. The new legislation introduces a significant financial barrier, requiring issuers to maintain at least KRW 500 million in capital before gaining regulatory approval. This move comes as part of South Korea’s broader effort to establish a robust digital asset framework that balances innovation with consumer protection. Min Byeong-deok, the architect of this proposal, emphasizes the bill’s intention to foster a secure environment for digital assets while supporting market growth.