South Korea is considering excluding dollar-denominated stablecoins such as USDT and USDC from its upcoming corporate cryptocurrency trading guidelines.
According to local reports, the country’s Financial Services Commission plans to prevent these stablecoins from being used in the early stages of corporate crypto trading rules.
Regulators say the measure is designed to avoid excessive or indiscriminate investments as the market develops. Under the current legal framework, the Foreign Exchange Transactions Act does not recognize stablecoins as a legitimate method of external payment.
Although there have been discussions about amending the law to include stablecoins, those proposals have not yet been approved. Local companies had previously requested that stablecoins be allowed in corporate trading because they can help hedge against currency fluctuations and enable faster cross-border settlements.
The proposed restrictions highlight the cautious approach South Korean regulators are taking toward stablecoin adoption.
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