South Korea’s stablecoin strategy
Dr. Sangmin Seo, chair of the Kaia DLT Foundation, has criticized South Korea’s strategy for banks to spearhead stablecoin issuance, arguing that it lacks a logical foundation. Seo emphasized the need for a more robust framework to support the initiative. He pointed out that the current approach does not adequately address the complexities involved in stablecoin regulation. Furthermore, he called for clear regulations that would apply to all issuers, not just banks. This, he believes, would create a more equitable environment for stablecoin development in the country. The critique highlights ongoing discussions about the role of financial institutions in the evolving digital currency landscape.
