Stablecoin in Korea: Industry Wants Regulation to Come Faster

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/