South Korea Cracks Down on Stablecoins with New Regulations

South Korea’s Financial Services Commission (FSC) is poised to launch a new regulatory framework for stablecoins, aiming to enhance market stability and security. The draft legislation, which will be introduced to the National Assembly in October, seeks to standardize issuance procedures, establish collateral management practices, and set internal risk control protocols as part of a broader cryptocurrency regulation initiative. 🇰🇷