South Korea's FSC: It will draft the specific content of the second phase of stablecoin regulations in the second half of this year
2025-04-17 00:19:03
The Financial Services Commission (FSC) of South Korea has reiterated its commitment to the smooth and timely development of a stablecoin regulatory framework. This comes after the South Korean government announced plans to conduct a review of the second phase of legislation for its broader virtual asset framework, in which stablecoin regulation is listed as a top priority. The FSC confirmed that it will stick to the original timeline, with the goal of drafting the specifics of the second phase of regulation in the second half of this year. A dedicated working group of relevant government entities will be tasked with organising the process. The commission also said it will step up monitoring of the broader virtual asset market, including stablecoins, in light of the recent heightened market volatility. These efforts are aimed at strengthening the protection of cryptocurrency users.
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