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South Korea Urged to Fast-Track Won Stablecoin as 200 U.S. Coins Prepare to Launch

Regulation & Policy Geopolitics

2026-07-16 05:52:17

On July 15, South Korea's Democratic Party lawmaker Min Byung-deok called for accelerating domestic won stablecoin discussions during a policy seminar in Seoul, warning that the U.S. is preparing to deploy stablecoins globally. According to Min, the U.S. GENIUS Act regulating stablecoins will take effect on January 18, 2027, with approximately 200 stablecoins currently under preparation in the U.S. market. Min emphasized that without a won-denominated stablecoin, dollar-based stablecoins would quickly dominate South Korea's digital payment ecosystem, potentially shifting data control and settlement standards overseas. He stressed that establishing local stablecoin infrastructure is critical to maintaining South Korea's financial sovereignty and competitiveness in the digital economy.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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