South Korea's People Power Party Digital Asset Special Committee Chairman Kim Sang-hoon expressed concern at an academic conference about restrictions on exchange equity, calling for the prioritization of the second phase legislation of the digital asset basic law related to stablecoins to avoid missing the golden legislative window due to equity regulation disputes. He pointed out that the overseas circulation of Korean won stablecoin KRWQ challenges monetary sovereignty, advocating for laws to provide market predictability, offer clear guidance to operators, and establish user safety mechanisms.

MeNews

2026-05-21 02:12:03

Abstract generation in progress

ME News, On April 17 (UTC+8), Kim Sang-hoon, Chairman of the Digital Asset Special Committee of the People Power Party of South Korea, said at an academic conference that he is concerned about restrictions on equity in cryptocurrency exchanges, and called for prioritizing the development of the stablecoin-related digital asset basic law (second-phase legislation) to avoid missing the golden window for legislation due to equity regulation disputes. He noted that abroad, the issuance and circulation of the Korean won stablecoin KRWQ has already become a reality, posing a severe challenge to monetary sovereignty. Kim Sang-hoon emphasized that the law should give markets predictability, provide clear guidance for operators, and offer effective safety mechanisms for users. (Source: ODAILY)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

8 Likes

Reward
8
11
6
Share

Comment

Add a comment

GateUser-ffe7bee5

· 4h ago

Clear guidelines mean regulations should be straightforward; avoid creating ambiguous areas.

View OriginalReply0

DaoDoorKeeper

· 10h ago

Legislative efficiency and market confidence are intertwined; prolonging the process harms both sides.

View OriginalReply0

EchoOfL2

· 12h ago

I hope that this time we can truly establish a system that balances innovation and security.

View OriginalReply0

HotAirBalloonViewing

· 12h ago

Let's push forward with the second phase of legislation quickly; the market can't wait.

View OriginalReply0

RetroRadioIridescence

· 12h ago

User security mechanisms must keep up; we can't just talk about innovation without considering risks.

View OriginalReply0

GateUser-c1cab702

· 12h ago

Is KRWQ already circulating overseas? This indeed poses a potential threat to the sovereignty of the Korean won.

View OriginalReply0

InstantNoodle-LevelResearcher

· 13h ago

Overseas stablecoins are forcing domestic legislation, this plot feels familiar.

View OriginalReply0

MintCondition

· 13h ago

The term "golden legislative period" is very vivid; the window of opportunity is indeed limited.

View OriginalReply0

ForkInTheRoadmap

· 13h ago

Predictability is too important, and now practitioners don't know where the red line is.

View OriginalReply0

Stop-LossIsLikeAConfession

· 13h ago

Why must exchange equity restrictions and stablecoin legislation be in opposition when they are not mutually exclusive?

View OriginalReply0

Trending Topics
View More
#
TradfiTradingChallenge
227.78K Popularity
#
GrayscaleBuysAndStakesOver510KHYPE
8.91M Popularity
#
DailyPolymarketHotspot
1.01M Popularity
#
SpaceXOfficiallyFilesforIPO
748.48K Popularity
#
GateSquarePizzaDay
1.71M Popularity

Pinned

Sitemap

Korean lawmakers call for prioritizing stablecoin legislation to prevent equity restriction disputes from delaying the process

Trending Topics

TradfiTradingChallenge

GrayscaleBuysAndStakesOver510KHYPE

DailyPolymarketHotspot

SpaceXOfficiallyFilesforIPO

GateSquarePizzaDay

Pinned