South Korean Lawmaker Opposes Bank-Only Won Stablecoin Plan
Min Byung-duk has criticized plans for a bank-only won stablecoin and urged the passage of the Digital Asset Framework Act by January.
South Korean lawmaker Min Byung-duk has criticized proposed plans to restrict won stablecoins strictly to commercial banks, according to BigGo Finance. In public remarks, the official urged lawmakers to pass the pending Digital Asset Framework Act by January.
The regulatory debate centers on the structure and issuance of digital assets tied to the South Korean currency. Lawmakers continue to review the broader digital asset framework to establish compliance standards for the local market.
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Key facts
- Lawmaker Min Byung-duk criticized the bank-only won stablecoin plan.
- The official urged the passage of the Digital Asset Framework Act by January.
Source: news.google.com
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