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The South Korean regulatory agency is considering allowing tech giants to issue their own stablecoins.

2025.11.20 09:08:31

On November 20th, as per DL News, the South Korean regulatory body is mulling over permitting tech behemoths to issue their own stablecoins. An unidentifiable industry source disclosed that the Financial Services Commission (FSC) of South Korea is earnestly contemplating a proposal that would enable companies outside the financial sector to issue stablecoins. Certain industry insiders are apprehensive about this. They hold the view that allowing technologically advanced large fintech companies to enter the stablecoin market could erode the competitiveness of banks, resulting in an IT-driven "competition" between banks and tech giants. President Lee Jae-myung had pledged to "open up" the South Korean stablecoin market to domestic participants prior to his election in June. Nevertheless, efforts to fulfill this pledge have thus far been stymied by South Korean banks, which are opposed to non-financial companies having the issuance rights.
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