South Korea’s Financial Services Commission (FSC) has delayed submitting its stablecoin regulation proposal. The plan was expected to be sent to the National Assembly by the December 10 deadline. However, the FSC said it needs more time to work with other government agencies. This is to make sure the proposal is complete and clear before it is made public.
Stablecoins are cryptocurrencies that are tied to real world money like the Korean won. They are important in the crypto world because they help traders move funds quickly and reduce price swings. A clear set of rules for stablecoins could boost confidence among investors and businesses. South Korea has been reviewing its digital asset rules to protect consumers and support innovation. A delay means regulators will take extra time to coordinate views with related ministries.
Industry watchers say that delays in stablecoin regulation can slow market growth. Some companies might hesitate to launch new services until rules are final. Yet regulators argue that stronger coordination can lead to better lawmaking and clearer guidelines. The FSC plans to present the proposal to lawmakers and the public together. This approach aims to make the policy transparent.
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