Update
South Korea to Regulate Stablecoins Under Forex Law for Payments
South Korea is set to amend its foreign exchange law to incorporate regulations for stablecoins as payment tools. This move places stablecoins under the country's formal foreign exchange reporting and oversight framework, alongside the introduction of a virtual asset monitoring system by the Bank of Korea. The regulatory shift suggests a more structured environment for stablecoin use in payments and cross-border transactions.