South Korea Legalizes Stablecoins for Payments, Signaling Global Regulatory Shift

South Korea is set to take a significant step forward in regulating stablecoins as part of its financial legislation. The country aims to formally recognize these digital currencies for payments, with the aim of curbing money laundering and tax evasion. This move reflects growing global scrutiny of stablecoin usage, particularly as it relates to US dollar-backed alternatives that bypass established regulatory frameworks. South Korea’s action is expected to influence wider trends in stablecoin regulation globally, potentially impacting their adoption within traditional financial systems.