South Korea Plans Bank-Led Consortia for Korean Won Stablecoin Issuance

South Korea's regulators are advancing plans to limit Korean-won-pegged stablecoins to bank-led consortia, requiring commercial banks to hold at least 51% stakes. This framework aims to safeguard financial stability and monetary policy while issuing the Digital Asset Basic Act by early 2025. South Korea stablecoin regulation mandates bank-majority consortia for issuance, ensuring oversight by established [...]