South Korea requires banks to hold more than 50% ownership to issue stablecoins; legislators oppose this and plan to propose an alternative solution.

MarsBitNews · 2026-01-08T09:17:34+00:00

The Korea Financial Services Commission supports the central bank's stablecoin regulation proposal, requiring banks to lead issuance and hold more than 50% of the shares. The plan faced opposition from the ruling party in Congress and also proposed stricter requirements for cryptocurrency exchanges.

MarsBitNews

2026-01-08 09:17:34

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Breaking News from Mars Finance: The Korea Financial Services Commission (FSC) has shifted its stance and now supports the Bank of Korea’s (BOK) stablecoin regulatory proposal. The plan requires stablecoins to be issued by a bank-led consortium, with banks holding more than 50% of the shares to maintain control. Although technology companies can become the single largest shareholders, their shareholding ratio must remain below the overall bank holdings. However, this plan faces opposition in the National Assembly from legislators such as the ruling Democratic Party, highlighting disagreements between the ruling party, financial regulators, and the central bank. The proposal also imposes stricter requirements on cryptocurrency exchanges, including higher IT stability standards, mandatory compensation for hacker losses, and fines up to 10% of annual revenue.

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