Bank Consortium Debate Slows Stablecoin Progress

[cryptoenthusiast]

The Bank of Korea (BOK) wants stablecoin issuance restricted to a bank consortium holding at least 51% of any issuer. The ruling party’s task force opposes this, arguing it could stifle innovation. Lawmakers and regulators are negotiating a compromise ahead of the draft legislation expected next month.

[Nahid Hossen]

Ongoing debates show how complex stablecoin regulation can be.

[Abdul Khan]

Delays risk pushing innovation to more flexible jurisdictions.