South Korea weighs bank-led consortia rule for won stablecoins
AI summary
South Korea is weighing rules that would require won-denominated stablecoins to be issued by bank-led consortia under its proposed digital asset law. Fintech firms are lobbying for broader eligibility to issue such tokens. The outcome matters to traders because it would shape who controls Korea's onshore stablecoin market and could set a precedent for bank-dominated issuance in other jurisdictions.
