South Korea's New President Promotes Crypto-Friendly Policies Amid Stablecoin Launch Plans

According to Cointelegraph, Layer-1 blockchain Kaia has announced plans to introduce a stablecoin pegged to the South Korean won following the inauguration of President Lee Jae-myung on June 4. Lee, a left-leaning politician, distinguished himself during his campaign with a series of promises favorable to the cryptocurrency sector. The launch of a won-based stablecoin is among the crypto initiatives that set Lee apart from other candidates who also supported digital currencies. However, the issuance of stablecoins in South Korea faces legal challenges, as the country's constitution grants exclusive rights over currency issuance to the central bank, the Bank of Korea source: https://www.binance.com/en/square/post/25384366172610?utm_source=BinanceNewsRSS