Regulation· ★★★★· neutral·

South Korea moves to classify stablecoins as payment instruments under forex law

  • —FETA amendments would treat dollar-pegged stablecoins as legal means of payment
  • —Virtual asset transfer businesses must register with the Ministry of Economy and Finance
  • —Non-compliance carries penalties of up to three years in prison
  • —The Bank of Korea has long pushed for tighter control of dollar stablecoin outflows
Why it matters: South Korea is folding stablecoins into its foreign exchange regime for the first time, tightening oversight of transfers and setting a precedent for other jurisdictions.
#USDT#USDC
Source: Crypto Briefing
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