Bank of Korea: Stablecoins require stricter regulation than other crypto assets

ChainCatcher news, the Bank of Korea has released a research report titled "Major Issues and Legislative Directions Related to Cryptocurrency Asset Regulation," stating that stablecoins require stricter regulation than other cryptocurrencies because they have the potential to undermine financial stability.

The report suggests that stablecoin issuers should be required to maintain minimum capital and reserve assets to minimize the risk of digital asset transfer to payment and settlement systems. Additionally, cryptocurrency businesses should be registered and authorized to operate, and should undergo regular external audits. (Source link)