South Korea’s New Crypto Bill Sets $3.5M Minimum for Stablecoin Issuers – Can It Pass?

South Korea is moving closer to passing a new crypto bill that would require stablecoin issuers to hold a minimum of 5 billion won ($3.5 million) in capital, as lawmakers seek to formalize oversight of the virtual asset market. According to local reports, the Democratic Party’s Digital Asset Task Force, led by Chairman Lee Jeong-moon, convened its second plenary session on January 28 at the National Assembly Members’ Hall to discuss legislative directions based on the bill’s provisions. Representative A ...