South Korea | Crypto

Japan and South Korea are moving quickly to create clearer rules for stablecoins as global interest in digital currencies grows. Stablecoins are cryptocurrencies designed to hold steady value by linking to fiat currencies, commodities, or other assets. Their use in payments, trading, and DeFi has expanded rapidly, with forecasts suggesting the market could grow into […] The post Asian powerhouses Japan and South Korea advance stablecoin regulatory efforts appeared first on CryptoSlate.

The FSC will introduce a bill that’s expected to provide guidelines on issuance, collateral management and internal control systems for stablecoins. South Korea is reportedly preparing to introduce a regulatory framework for a won-backed stablecoin, with its financial regulator set to introduce a government bill in October. On Monday, South Korean news portal MoneyToday reported that the Financial Services Commission (FSC) will unveil the bill as part of a second phase of the nation’s Virtual Asset User Protection Act. Democratic Party of Korea (DPK) Representative Park Min-kyu said during a policy debate that he received a briefing from the FSC on the policy direction on stablecoins. “The government bill is expected to be submitted to the National Assembly around October,” Park said.  Read more

Jeju City, in the South Korean island province of Jeju, has completed a crypto-themed investigation of almost 3,000 residents with unpaid tax bills, seizing Bitcoin (BTC) and other coins from dozens of individuals. The post South Korea’s Jeju Wraps Crypto Probe of Almost 3,000 Tax Evaders, Seizes Coins appeared first on Cryptonews.

XRP is gaining renewed traction in Asia, driven by fresh institutional interest and infrastructure developments in South Korea and Japan, two of the region’s key crypto hubs. This resurgence comes as the token’s price has remained relatively bound around the $3 mark over the past month, coinciding with the continued expansion of the XRP Ledger’s […] The post Institutional interest boosts XRP’s resurgence in South Korea and Japan appeared first on CryptoSlate.

Tether’s USDT supply has increased by $26 billion in 2025, pushing its market cap to $163.6 billion as global demand for stablecoin grows. Stablecoin-issuer Tether has become the 18th-largest holder of United States Treasurys globally, surpassing the holdings of South Korea, according to a recent attestation report.  On Thursday, Tether said in its attestation report for the second quarter of 2025 that it holds $127 billion in US Treasury bills. The company said it has $105.5 billion in direct US Treasury exposure and $21.3 billion held indirectly.  Tether’s current holdings show a $7 billion increase from the first quarter. On May 19, the stablecoin issuer reported having $120 billion in T-bills, overtaking Germany’s holdings to take the 19th spot.  Read more

The guidelines are expected to cover leverage limits, user eligibility and risk disclosures for crypto lending activities. South Korea’s financial regulators plan to release guidelines on cryptocurrency lending services next month in an effort to tighten oversight and protect investors amid growing concerns over leveraged crypto products. The Financial Services Commission (FSC) and Financial Supervisory Service (FSS) on Thursday announced the formation of a joint task force to develop a regulatory framework for crypto lending, according to local media Yonhap News Agency (YNA). The move follows new lending services introduced by South Korean exchanges Upbit and Bithumb. According to YNA, Bithumb has allowed users to borrow as much as four times their collateral, while Upbit has offered loans worth up to 80% of users’ asset value. Read more

Stablecoin ATMs launch in South Korea for tourists, as regulators continue to weigh rules on broader stablecoin use.

South Korea’s rival stablecoin bills hint at a divide over regulation as the country seeks a stronger foothold in the global crypto market.

Lawmakers from South Korea’s two biggest political parties have unveiled stablecoin bills. The bills’ authors concur on many points, but interest payment plans appear to be a sticking point. The post South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans appeared first on Cryptonews.

The South Korean commercial banking giant Shinhan Bank has launched a range of crypto services on its SOL smartphone app. The post South Korea’s Shinhan Launches Crypto Services on Its Banking App appeared first on Cryptonews.

Four US-dollar stablecoin issuers hold roughly $182 billion in US Treasury bills, an amount that would slot them 17th on the Treasury Department’s country-by-country league table. The amount in overnight Treasury-collateralized repos and Treasury-heavy money market funds would put the group between Norway’s $195.9 billion and Saudi Arabia’s $133.8 billion. Tether’s USDT tops the cohort. […] The post Stablecoin issuers’ $182 billion US Treasury hoard ranks 17th among countries, beating UAE and South Korea appeared first on CryptoSlate.

South Korean experts claim that the nation’s stablecoin pivot could hamper the growth of card providers, but provide a boost to domestic tech giants. The post Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech appeared first on Cryptonews.

South Korea’s top financial regulator is working on a detailed roadmap to support the launch of digital asset spot exchange-traded funds. According to a June 19 report by Herald Economy, the Financial Services Commission revealed the move during a policy update to the State Affairs Planning Committee. The FSC plans to roll out its proposal […] The post South Korea moves closer to spot Bitcoin ETFs as FSC explores proposal appeared first on CryptoSlate.

South Korea’s newly elected president Lee Jae-myung reportedly promised to reduce crypto trading transaction costs as part of his presidential campaign. South Korea’s financial regulator plans to investigate transaction fees charged by domestic cryptocurrency exchanges, aiming to reduce trading costs for users, according to local media. South Korea’s Financial Services Commission (FSC) will launch a probe into transaction fees imposed by local trading platforms and review potential intervening measures, the Herald Economy reported on Thursday. The move is part of South Korea’s newly elected president Lee Jae-myung’s broader pro-crypto agenda. Lee reportedly promised to reduce crypto trading transaction costs to support young traders as part of his presidential campaign. Read more

President Lee Jae-myung rose from being a child laborer in post-war South Korea to becoming a crypto-friendly leader of one of the world’s largest digital asset markets. President Lee Jae-myung’s rise to South Korea’s highest office marks the return of a left-leaning populist with deep working-class roots and bold plans for institutional crypto integration.  Though crypto was not directly mentioned in Lee’s inauguration speech on June 4 after the impeachment of his predecessor, Yoon Suk Yeol, Lee now leads the country with a list of crypto promises made during his campaign. His administration is expected to accelerate the integration of digital assets into Korea’s regulatory and financial systems on the back of the Democratic Party’s Digital Asset Committee. Read more

Crypto policy is a key issue ahead of South Korea’s June 3 election, with both parties backing ETFs and stablecoin reforms.

South Korean police arrested a Russian national in Busan after a failed $730,000 crypto robbery in Seoul. South Korean authorities have arrested one of three Russian nationals accused of an attempted robbery during a fake crypto deal in Seoul. The suspects allegedly lured Korean investors to a hotel, where they tried to steal 1 billion won (approximately $730,000) in cash. The Gangseo Police Precinct in Seoul detained a man in his 20s in Busan on May 27, according to a report by local news outlet JoongAng Daily. The suspect faces charges of assault and attempted robbery. The other two suspects reportedly fled South Korea shortly after the incident. According to investigators, the robbery attempt occurred on May 21 at a hotel in Seoul’s Gangseo District. The suspects posed as participants in a peer-to-peer crypto transaction and invited 10 Korean men to the hotel. Read more

Presidential hopefuls in South Korea are turning to crypto to win younger voters, with older generations now joining the conversation. Cryptocurrency has emerged as a defining issue in South Korea’s snap presidential election, with candidates vying for support from a growing base of digital asset investors across generations. All three front-runners have rolled out crypto-friendly proposals. These include the legalization of spot Bitcoin (BTC) exchange-traded funds (ETFs) and the easing of banking rules that currently restrict fiat-to-crypto trading to just five platforms. The June 3 vote is slated to come around two years early, triggered by the impeachment of former president Yoon Suk-yeol after his controversial declaration of martial law in late 2024. Though quickly overturned by lawmakers, the abrupt power grab led to a political crisis and his eventual removal from office. Read more

Lawmakers close to Lee Jae-myung, the frontrunner in the South Korean presidential elections, have called for Seoul to steal a march on Washington by expediting the rollout of a KRW stablecoin. The post South Korea’s Biggest Party Urges ‘Expedited KRW Stablecoin Rollout’ appeared first on Cryptonews.

South Korea and the European Union have committed to strengthening cooperation to tackle global cyberthreats. The post South Korea, EU Pledge Joint Action Against North Korea’s Crypto Theft appeared first on Cryptonews.