[Nominee for South Korea's Financial Regulator Chair Says Cryptocurrencies Lack Intrinsic Value but Supports Stablecoin Plans] Odaily Planet Daily reports that Lee Eok-won, the nominee for chairman of South Korea's Financial Services Commission (FSC), stated ahead of his confirmation hearing that cryptocurrencies, due to their high volatility, cannot serve as a store of value or a medium of payment and lack intrinsic value. He expressed caution regarding pension and retirement fund investments in crypto assets and noted that local crypto ETFs remain controversial. Lee's remarks were criticized by industry insiders as regressive, but he also expressed support for South Korea's plans to promote the local stablecoin market. (The Block)