South Korea Moves to Codify Stablecoin Rules as FSC, BOK and Finance Ministry Coordinate
- —Inter-agency council discusses putting stablecoin rules into legislation
- —Bill may include reserve requirements and bankruptcy protection for users
- —Bitcoin +1.03% to $83,970; Ethereum +2.18% to $2,705.72
- —$272.3 million liquidated in 24 hours, 71.68% longs; BTC $68.75 million, ETH $63.85 million
Why it matters: Reserve and user-protection rules will shape Korean market liquidity and set a precedent for other jurisdictions.
Source: TokenPost