Korean firms denied formal Open USD membership despite appearing on the alliance’s public roster. Several companies said Open Standard only discussed possible participation without agreements. The dispute adds scrutiny as South Korea reviews tighter rules for foreign stablecoin issuers. Several leading South Korean companies have denied formally joining the Open USD (OUSD) Alliance after appearing […]
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The post Bank of Korea defends bank-first stablecoin plan amid bill deadlock appeared on BitcoinEthereumNews.com.
The Bank of Korea has reaffirmed that won-denominated stablecoins should initially be issued through bank-led consortiums, reinforcing its position as South Korea’s digital asset legislation remains stalled. Summary Bank of Korea has reaffirmed support for bank-led issuance of won-backed stablecoins. The central bank plans to expand deposit-token pilots for public payments and services. Disagreements over stablecoin rules continue to delay South Korea’s Digital Asset Basic Act. According to local reports from Digital Asset and EDaily, the Bank of Korea (BOK) restated its position in documents submitted on Thursday to the National Assembly’s finance committee. The central bank argued that bank-led consortiums should receive priority when issuing won-backed stablecoins and also proposed creating a statutory policy body that would bring together financial regulators and other
The Bank of Korea has reaffirmed that won-denominated stablecoins should initially be issued through bank-led consortiums, reinforcing its position as South Korea’s digital asset legislation remains stalled. According to local reports from Digital Asset and EDaily, the Bank of Korea…
The post EU Set to Revise MiCA in 2027 to Cover Foreign Stablecoin Issuers appeared on BitcoinEthereumNews.com.
In brief The EU is preparing to reopen its Markets in Crypto-Assets (MiCA) rulebook, likely in 2027, to regulate non-EU stablecoin issuers and broaden its scope, EU diplomats told Euronews. The push follows the U.S. GENIUS Act and President Trump’s promotion of dollar-backed stablecoins, which make up 95% of the market. The European Commission is consulting stakeholders until September 30 before deciding whether to formally reopen the law. The European Union is preparing to reopen its flagship crypto rulebook to bring non-EU stablecoin issuers under its supervision, as U.S. President Donald Trump’s embrace of dollar-pegged tokens unsettles European regulators, Euronews reported, citing several EU diplomats. MiCA, the bloc’s landmark crypto framework, only fully came into force on July 1, but officials already see a rewrite as inevitable. “Reopening the file seems unavoidable
The Bank of Korea reiterated its call for bank-led won stablecoin issuance while advancing deposit token pilots, as issuer rules remain a sticking point in South Korea’s digital asset bill.
The post Bitcoin Holds Near $62K as Extreme Fear Grips Global Markets appeared on BitcoinEthereumNews.com.
Crypto News Global risk appetite steadied on Thursday as South Korea’s KOSPI staged a sharp reversal and Bitcoin (BTC) held near $62,000. The benchmark index peaked at 7,539, a gain of nearly 4% from Wednesday’s close of 7,246.79, pulling it back above the threshold that had confirmed a bear market only a day earlier. The rebound handed Asian equities brief relief after a punishing midweek slide. For crypto traders tracking correlated risk assets, the move mattered, as digital assets and altcoins have moved in tandem with equities during recent volatility spikes, and Bitcoin’s grip on the $62,000 area mirrored the equity bounce even as sentiment stayed fragile across markets. The rebound followed a brutal Wednesday session. The KOSPI fell 5.35% to close at 7,246.79, its lowest level since May 20, sinking more than 20% below its June 22 record of 9,114.55 — the drawdown threshold t
Mirae Asset's acquisition of Korbit may accelerate the integration of traditional finance with digital assets, fostering innovative investment products.
The post South Korea greenlights Mirae Asset’s acquisition of crypto exchange Korbit appeared first on Crypto Briefing.
South Korea's record-low bond spreads enhance its financial stability, signaling strong investor confidence and bolstering foreign reserves.
The post South Korea sells $1.7B in currency stabilization bonds at record-low spreads appeared first on Crypto Briefing.
