South Korea’s central bank is asking 31 banks and securities firms to map their crypto exposure and assess hypothetical shocks, including an exchange shutdown and losses spreading between institutions. The survey’s findings—and any regulatory response—remain unknown.
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South Korea is weighing monthly crypto-holdings reports for users with overseas-transfer histories, alongside a possible 0.5%–1% tax on exchange revenue. Both proposals remain uncertain, with privacy, legal authority and potential costs still unresolved.
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South Korea plans monthly crypto-holdings and cross-border transfer reports for users who sent assets to overseas exchanges or wallets since July 2024. Dormant and staked assets count, while historical reporting and visibility beyond providers’ platforms remain unclear.
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South Korea says its second-stage crypto bill is still headed for a November review, but the real battle is over stablecoins. Regulators and lawmakers are split on whether banks should control issuance — and U.S. policy pressure is only making the fight sharper.
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The Bank of Korea says direct access to dollar stablecoins can do more than stir crypto prices — it can spill into FX markets and pressure local currencies. South Korea saw premiums, Brazil saw passthrough, and the real lesson is simple: the rails matter.
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South Korea is trying to clean up its crypto mess with one digital asset law, a still-contested 22% tax plan, and expanded CBDC testing. It’s a sharp mix of regulation, revenue, and state-controlled digital money — with plenty still up for grabs.
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South Korea’s central bank has finished real-money tests in a BIS project using tokenized reserve payments, showing how wholesale CBDC-style rails could streamline cross-border settlement. It’s progress on the plumbing — but stablecoin rules and full rollout are still very much a work in progress.
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South Korea’s biggest banking group has completed a won-pegged stablecoin pilot that actually did something useful — while the country’s regulators are still stuck in a turf war over who gets to control the rails. KB Financial Group finished a won-denominated stablecoin trial Payments, merchant settlement, and remittances were tested on blockchain infrastructure QR payments […]
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South Korea Urges Stablecoin Regulation as BOK-FSC Clash Delays Crypto Laws South Korea finds itself in a high-stakes race to regulate stablecoins, with an overseas Korean won (KRW)-pegged token igniting fears over the erosion of national monetary sovereignty. Lawmakers are championing the Digital Asset Framework Act to bring order to the chaos, but a fierce […]
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South Korea Demands Crypto Circuit Breakers After Bithumb’s $42 Billion Disaster South Korea’s central bank is raising hell after Bithumb, one of the nation’s top cryptocurrency exchanges, fumbled a clerical error into a staggering $42 billion Bitcoin payout blunder. The Bank of Korea (BOK) is now pushing hard for mandatory “circuit breakers” on crypto platforms […]
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