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South Korea’s financial regulator plans to submit a stablecoin regulation bill in October, aiming to create a structured framework for issuing and managing stablecoins, potentially boosting local #crypto# adoption while ensuring oversight.
The proposed legislation could define capital requirements and issuer guidelines, following global trends to counter USD dominance in stablecoins. This builds on ongoing efforts like the Digital Asset Basic Act.
With banks like KakaoBank eyeing stablecoin ventures, the bill could catalyze institutional involvement.
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