South Korea is considering assessing the "one exchange, one bank" restriction and may relax rules on exchange-bank cooperation.

According to local media reports, South Korean financial regulators are assessing whether to end the long-standing practice of cryptocurrency exchanges partnering with only one bank. This review, coordinated by the Financial Services Commission (FSC) and the Fair Trade Commission, aims to assess whether the current mechanism exacerbates market concentration. The report notes that the "one exchange, one bank" model is not enshrined in law but rather gradually developed under anti-money laundering (AML) and customer due diligence requirements. Related research suggests that this model may restrict access to banking services for smaller exchanges, thereby consolidating the advantages of leading platforms. This discussion is also related to South Korea's push for the second phase of legislation on the Basic Law on Digital Assets. This bill plans to allow the issuance of won-denominated stablecoins, but disagreements remain regarding the regulatory framework and approval mechanisms, and the submission deadline has been postponed to 2026. (Cointelegraph)