Offshore Won Market Needed to Boost Global Trust in Won-Backed Stablecoin Reserves
Calls are rising for an offshore won market to boost global trust in won-backed stablecoins, with experts stressing the need for international collateral recognition and regulatory alignment.
Lee Ok-won, nominee for Chairman of South Korea's Financial Services Commission, stressed the need for robust safeguards as stablecoin adoption discussions accelerate, highlighting ongoing preparations for regulatory frameworks covering both won- and dollar-denominated stablecoins.
#YonhapInfomax #Stablecoin #FinancialServicesCommission #RegulatoryFramework #WonStablecoin #LeeOkWon #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=79827
Lee Ok-won Voices Caution on Stablecoins—'Ensuring Robust Safeguards'
Lee Ok-won, nominee for Chairman of South Korea's Financial Services Commission, stressed the need for robust safeguards as stablecoin adoption discussions accelerate, highlighting ongoing preparations for regulatory frameworks covering both won- and dollar-denominated stablecoins.
The Bank of Korea has warned that won-pegged stablecoins could bypass foreign exchange regulations and disrupt the financial industry, urging that regulatory loopholes and the separation of banking and commerce be addressed before broader adoption.
#YonhapInfomax #BankOfKorea #WonStablecoin #ForeignExchangeRegulation #MonetaryPolicy #FinancialIndustryStructure #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=77589Bank of Korea Governor Lee Chang-yong signaled that the timing and pace of rate cuts will hinge on financial stability risks, citing rapid Seoul housing price gains and global fragmentation, while also warning against unregulated won stablecoins and highlighting the impact of fiscal stimulus on growth.
#YonhapInfomax #BankOfKorea #LeeChangYong #InterestRateCuts #FinancialStability #WonStablecoin #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=70309South Korea urged to develop won-based stablecoins to counter US dollar dominance through USDC and USDT, balancing CBDC and private sector innovation for economic sovereignty and payment system modernization.
#YonhapInfomax #WonStablecoin #DollarHegemony #CBDC #DigitalAssetLegislation #MonetarySovereignty #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=64159
US Strengthens Dollar Hegemony with Tether and Circle - Urgent Need for Won-based Stablecoin Institutionalization
South Korea urged to develop won-based stablecoins to counter US dollar dominance through USDC and USDT, balancing CBDC and private sector innovation for economic sovereignty and payment system modernization.
Bank of Korea Tests Digital Currency - 'Won Stablecoin Experiment Also Needed'
Bank of Korea launches CBDC test project, while experts suggest exploring won stablecoin options to enhance digital currency competitiveness and financial innovation
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