From Cointelegraph
June 20, 2025
2:44:00 am:

The head of South Korea’s central bank is open to a won-based stablecoin but concerned about managing its forex exchange. Decrease in forex reserves from $415.6 billion to $404.6 billion raises alarm. President Lee Jae-myung moves ahead with crypto regulation as promised, introducing the Digital Asset Basic Act. Companies can issue stablecoins with approval from the Financial Services Commission and sufficient reserves.

US dollar-backed stablecoins dominate the market, with Tether leading at $156 billion market cap. Circle’s USDC follows with $61 billion. However, Circle’s euro-pegged stablecoin, EURC, is gaining traction with a market cap of $203 million, up 156% this year. Circle’s stock surged after US lawmakers indicated support for the GENIUS Act regulation.

Read more at Cointelegraph: South Korea Central Bank Won’t Oppose Stablecoin: Report