📰 【Circle plans to provide technical support to local Korean institutions to help them issue stablecoins after approval】

BlockBeats news, April 15th, Circle CEO Jeremy Allaire stated that Circle currently has no plans to launch a stablecoin pegged to the Korean won (KRW), but is closely monitoring legislative progress in the Korean National Assembly regarding stablecoin regulation. If Korea establishes a clear legal pathway for global companies, Circle is willing to apply for licenses and set up branches in Korea. Faced with the regulatory deadlock in Korea (lawmakers leaning towards allowing tech companies to issue stablecoins, while banks and the Bank of Korea advocate for exclusive issuance by banks), Circle chooses not to directly issue a Korean won stablecoin but plans to provide technical support to local Korean banks and crypto companies, helping them to issue after obtaining approval...
$USDC The parent company of is playing the game of "saving the country through curve" again. Not issuing coins in Korea, but switching to technical outsourcing. I can hear this scheme even from Shanghai. The Korean officials are still arguing over who should issue the coins—banks versus tech companies, fighting to the death—while Americans come in to build the underlying infrastructure. Typical regulatory internal strife, ultimately handing over core technology and standards to others. Just wait and see, the future of Korea’s local stablecoins’ lifeline might very well be in someone else’s hands.

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