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South Korea Proposes New Crypto Bill with Stablecoin Licensing Rules

Tags: digital new
South Korea Proposes New Crypto Bill with Stablecoin Licensing Rules

The post South Korea Proposes New Crypto Bill with Stablecoin Licensing Rules appeared first on Coinpedia Fintech News

South Korean lawmaker Min Byeong-deok has introduced a new bill aimed at strengthening crypto regulations. Called the Digital Asset Basic Act, the proposal includes a licensing system for stablecoin issuers. To qualify, issuers must hold over 500 million Korean won (about $367,890) in owner’s capital. Min, a member of the ruling Democratic Party, said the bill is designed to position South Korea as a leader in the global digital economy by setting clearer rules for the crypto space.

Tags: digital new