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South Korea delays financial regulatory reforms, discussion on the legalization of encryption stablecoins may be postponed.
[Coin World] The South Korean government has indefinitely postponed the financial regulatory reforms promised during President Lee Jae-myung's campaign, maintaining the existing structure of the Financial Services Commission and the Financial Supervisory Service. This decision adds uncertainty to Crypto Assets regulation, even though major banks and fintech companies are ready to launch a joint stablecoin, it may delay discussions on the legalization of stablecoins backed by the Korean won.