Bank of Korea Releases Crypto Regulation Report, Stable Coin Issuers Need to Have Minimum Capital Requirements and Reserve Assets

Dec 08,2022
KingData News: The Bank of Korea released a research report, "Major Issues Related to Crypto Asset Regulation and Legislative Direction," stating that stablecoins need stricter regulation than other crypto assets because they have the potential to undermine financial stability. The report argues that stablecoin issuers should be required to have minimum capital and reserve assets to minimize the possibility of digital asset risk transfer to payment and settlement systems, in addition to crypto asset businesses being registered and authorized to operate, and subject to regular external audits.
This index tracks global regulatory move targeted at cryptocurrency and blockchain industry.