Bank of Korea Deputy Governor Yoo Sang tae: Hope to gradually introduce stablecoins

The Deputy Governor of the Bank of Korea, Yoo Sang tae, expressed his hope to gradually introduce stablecoins. It is best to allow strictly regulated banks to issue (Korean won pegged stablecoins) first, and gradually expand to non bank sectors after accumulating experience. "The ruling Democratic Party led by South Korean President Lee Jae myung proposed the" Digital Asset Basic Act, "opening up a legal channel for the issuance of stablecoins in South Korea. The bill allows Korean companies with a share capital of 500 million Korean won (approximately 368000 US dollars) or more to issue stablecoins, provided that the redemption mechanism is guaranteed through reserve funds. (Sina Finance)