Regulators Split on Who Should Control Stablecoins

[cryptoenthusiast]

At the heart of the delay is a debate over oversight. Regulators are divided on whether a separate supervisory body should approve and monitor stablecoin issuers before launch, or whether existing authorities can handle enforcement after the fact.

The Financial Services Commission is reviewing the bill while also weighing limits on banks’ roles in stablecoins. The goal is to avoid crowding out technology firms, but critics warn that unclear governance could slow adoption just as other countries move ahead with regulated digital currencies.

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korea delaying crypto bills feels like tradition at this point