South Korea’s FSC chief nominee faces backlash for calling cryptocurrencies worthless, citing lack of intrinsic value and volatility. Government aligns with this stance, expressing concerns over pension funds investing in crypto. Regulations for stablecoins in development, but industry criticizes outdated views. South Korean regulators issue guidance limiting exposure to crypto stocks and halting lending services, while retail investors show increasing interest in crypto over traditional investments like Tesla. President Lee Jae-myung’s administration faces uncertainty on potential crypto reforms to accommodate growing interest in digital assets.

Read more at Yahoo Finance: South Korea FSC Chief Nominee Under Fire for Calling Crypto Worthless