From Yahoo Finance: 2025-06-10 10:47:00

South Korean President Lee Jae-myung’s Democratic Party submitted a bill to parliament allowing companies to issue stablecoins, requiring a minimum of 500 million won in equity capital and approval from the Financial Services Commission. Lee, recently elected, promised support for a won-based stablecoin market to retain national wealth, appealing to the nation’s 15 million crypto investors.

Stablecoins are tokens linked to traditional financial assets like fiat currencies to provide stability amidst volatile cryptocurrencies like bitcoin and ether. Tether’s USDT dominates the sector, with the U.S. dollar being the most prevalent asset. This stability allows users to hold digital assets without worrying about price fluctuations, driving interest in the sector this year.

The stablecoin sector’s strength was demonstrated by the strong performance of USDC issuer Circle’s stock post-IPO, with shares quadrupling in the first three days of trading. The sector’s market cap also reached $250 billion for the first time, highlighting its growth and potential amid progress toward regulation in the U.S.



Read more at Yahoo Finance: South Korea’s Ruling Party Wants to Allow Companies to Issue Stablecoins: Bloomberg