Bank Of Korea Calls For Bank-Issued Stablecoins To Prevent Financial Risks
The Bank of Korea (BOK) has urged lawmakers to adopt a bank-led model for stablecoin issuance ahead of the upcoming regulatory framework, warning that Korean Won (KRW)-pegged tokens could “repeat past monetary failures.” Related Reading: Crypto Wins Legal Status In India — High Court Calls It ‘Property’ BOK Raises Financial Stability Concerns On Monday, the […]
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Lawmakers have reportedly introduced a comprehensive crypto bill proposal in the French Parliament that could establish a national Bitcoin (BTC) reserve and boost the industry’s adoption in the country. Related Reading: Bank Of Korea Calls For Bank-Issued Stablecoins To Prevent Financial Risks Strategic Bitcoin Reserve Proposal On Tuesday, the Union of the Right for the […]
A new report by the European Central Bank (ECB), presented as a “deep dive into crypto financial risks,” calls for “appropriate” regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin’s carbon footprint in Europe, suggesting a ban on proof-of-work mining is probable. Growth of Stablecoins, Defi Warrants Regulation and Supervision, ECB Says Crypto-related financial risks, those associated with stablecoins and defi platforms in particular, as well as the threat to climate transition goals blamed....
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk to the country’s financial system. South Korean Central Bank to Intensify Screening of Crypto-Related Bank Records The central bank of South Korea intends to exercise its powers to conduct monitoring of crypto transactions through real-name bank accounts, according to a paper sent to an....
South Korea’s long-awaited stablecoin legislation risks being delayed until next year, as financial authorities brawl with the Bank of Korea (BOK) over the role of banks in the sector. Related Reading: Web3 Monetization, AI, and Maye Musk Take Over the Crypto Content Creator Campus 2025 BOK, Financial Regulators In Disagreement On Tuesday, Korea JoongAng Daily […]
As stablecoins continue to gain worldwide momentum, the International Monetary Fund (IMF) has called for global cooperation to avert potential macro financial stability risks related to the rapidly growing sector and to turn the industry “into a force for good.” Related Reading: S&P Welcomes Top Exchange’s Native Token To Five Key Crypto Indices Stablecoins To […]