In accordance with BitcoinWorld, South Korean lawmaker Min Byeong-deok has argued that the country should proactively design a won-denominated stablecoin rather than banning it. He emphasized that the absence of a regulated domestic stablecoin could push users toward unregulated foreign options, increasing economic vulnerability and reducing the central bank’s control. The Financial Services Commission is working on the second phase of the Digital Asset Act, which is expected to cover stablecoin regulations, though no official timeline has been provided. The proposed framework would require full reserve backing, transparent audits, and clear issuer rules to ensure stability and trust.
South Korea Considers Designing Won-Denominated Stablecoin to Strengthen Financial Sovereignty
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