South Korea is racing against time to regulate stablecoins. The regulators are finalizing stablecoin legislation while industry players urge faster regulatory clarity to compete globally. A seminar held on Monday at the National Assembly in Seoul gave a glimpse of the state of the industry. Regulators Push Legislation Since RedoPay, a Hong Kong company’s crypto payment service, launched in Korea last May, there has been a wide discussion in the industry that foreign-issued tokens like USDT (Tether) are already being used in everyday transactions, while domestic projects remain stalled by legal uncertainty
source: https://beincrypto.com/stablecoin-regulation-in-south-korea-warn-against-delays/