South Korea Legalizes Stablecoin Issuance, Sets Stage for Crypto Expansion

South Korea is poised to embrace a more robust crypto economy with the introduction of a new law permitting stablecoin issuance. The ruling People Power Party has proposed the Digital Asset Basic Act, which would enable companies with over $368,000 in capital to launch their own stablecoins. This move could significantly impact how South Korea views and regulates the burgeoning cryptocurrency sector.