Bank of Korea Weighs Deposits for Stablecoin Reserves

The Bank of Korea has proposed that issuers of won-based stablecoins must deposit reserve assets directly at the central bank. The proposal appeared in documents the bank submitted to the National Assembly’s finance committee on October 1. The government plans to publish its first draft bill on won-pegged stablecoins in October. Policymakers argue that tighter controls will protect users and stop private issuers from exploiting seigniorage-like profits source: https://beincrypto.com/bank-of-korea-weighs-deposits-for-stablecoin-reserves/