South Korea Dey Plan Regulashun for Won-Backed Stablecoin
South Korea Financial Services Commission (FSC) go propose law we go regulate won-backed stablecoin for October 2025, na na im be part of Virtual Asset User Protection Act phase two. The bill go set rules to issue stablecoin, manage collateral, and make sure say risk management dey work well to boost financial independence and domestic digital finance. President Lee Jae-myung go make sure say local stablecoin market strong to reduce how dollar dey dominate, so banks and payment companies don dey register trademarks and dey develop won-pegged services. Since November 2024, FSC virtual asset commission don draft two-phase roadmap, with ongoing consultations for the industry to get complete guidelines. This regulation for won-backed stablecoin go protect investors, standardize collateral rules, and make South Korea lead for global digital assets.
Bullish
If dem get clear regulation about won-backed stablecoins e fit make crypto market go up. If dem define how to issue, collateral and manage risk, e go make investors get confidence and e go also make big institutions fit use domestic stablecoins more. Before now, clear regulation dem like EU’s MiCA don help market stable and grow. For short term, market people fit change their plan because of compliance cost wey fit cause small wahala. But for long term, e go increase liquidity, reduce how much dem dey depend on dollar-pegged asset and make local digital finance system strong, wey go support better growth for South Korea crypto sector.