Regulation· ★★★★· bearish·

Bank of Korea to classify stablecoins as payment means in FX law by year-end

  • —Amendment sent to lawmakers on Oct. 22 to place stablecoins under FX controls
  • —Cross-border stablecoin transfers would require the same reporting as bank wires
  • —Crypto gains tax postponed to Jan. 1, 2027 after three delays
  • —Two petitions with over 50,000 signatures seek repeal or a two-year delay
Why it matters: South Korea is extending currency controls to stablecoins, curbing non-bank capital flows and setting a template other jurisdictions may follow.
Source: Bit2Me News
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