South Korea is taking a bold step towards a more secure digital currency landscape with a new proposal that could significantly influence the future of crypto. Leading the charge is Kim Byung-kee, the influential floor leader of South Korea’s ruling Democratic Party, who has championed a groundbreaking idea: bank-led stablecoins. This innovative concept aims to address concerns regarding traditional cryptocurrency exchanges issuing their own financial products and potentially undermining market stability. 1) Why Bank-Led Stablecoins? The rationale behind this proposal stems from the desire for enhanced consumer protection and market resilience. Kim Byung-kee argues that relying on cryptocurrency exchanges for stablecoin issuance poses inherent risks, potentially leading to conflicts of interest and systemic vulnerabilities. By entrusting the responsibility of stablecoin creation to established financial institutions, the aim is to leverage their existing regulatory frameworks, compliance procedures, and reputation for stability, ultimately instilling greater confidence in the digital asset space.