Bank of Korea to draft forex law amendment this year covering stablecoins

The Bank of Korea told lawmakers it will draft an amendment to the foreign exchange law this year to regulate stablecoins as a means of payment. The plan points toward tighter cross-border controls rather than granting stablecoins legal-tender status. Traders should watch for compliance burdens on stablecoin transfers in Korea, though the measure is still at the drafting stage and does not directly target major crypto assets.