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Bank of Korea Governor: Discussions are under way to regulate stablecoins issued overseas and EU regulations will be referred to

According to online reports, South Korea's Bank of Korea Governor Lee Chang-yong said on the 19th that "South Korea's Ministry of Planning and Finance and the Bank of Korea will definitely discuss how to regulate stablecoins issued overseas." When attending a meeting of the Congressional Planning and Finance Committee that day, Democratic Congressman Kim Tae-nian pointed out: "The United States, Japan and the European Union have respectively passed the Financial Innovation Act (GENIUS Act), the Fund Settlement Act, and the Cryptographic Asset Market Regulation Act (MiCA). Regulations, in principle, prohibit the sale and trading of overseas issued stablecoins within their territory. Shouldn't we regulate to prevent violations of monetary sovereignty?" Li Changyong made the above response to this. He added: "We are studying whether the same regulatory measures as the EU's MiCA bill can be implemented."

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