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South Korean Regulator Misses Stablecoin Regulation Deadline Amid Government Tensions

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South Korea’s Financial Services Commission (FSC) has missed a December 10 deadline to submit a stablecoin regulation bill to the government. The FSC cited coordination delays and plans to release its proposal before year-end or early 2026. The Bank of Korea opposes private stablecoin issuance, pushing for 51% bank ownership in issuing groups. The FSC rejects this, citing global models where fintech leads. The delay could impact Countering the Financing of Terrorism efforts tied to digital assets.
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