South Korea Unveils Digital Asset Bill Allowing Stablecoin Issuance, Crypto Stocks Rally

via-https://cryptonews.com/news/south-korea-unveils-digital-asset-bill-allowing-stablecoin-issuance/

South Korea’s President Follows Through on Crypto Promises
The proposal comes just a week after Lee, a progressive politician known for his pro-crypto stance, won the presidential election. His administration is moving swiftly to implement campaign pledges aimed at modernizing South Korea’s regulatory framework for digital assets.

Still, the initiative faces pushback from the Bank of Korea, which has expressed concerns about non-bank entities issuing stablecoins. Governor Rhee Chang-yong has argued that such assets could undermine monetary policy, and insists the central bank should lead any effort involving a won-pegged digital currency.