#southkoreaplanstoregulatestablecoinsunderfxlaw 🇰🇷 South Korea Makes Stablecoin Rules Stricter. Is This Good or Bad?
South Korea is planning to change its Foreign Exchange Transactions Act to make sure that stablecoin payments across borders are watched closely. 👀
The purpose is to stop dollars such as USDT and USDC from getting around regular money controls while making things more clear and open.
🏦 In addition a new Digital Asset Basic Act is being proposed to make rules for issuers stronger including how much money they need to keep in reserves and how to protect customers.
📊 My opinion: In the term more strict rules might add costs and confusion for exchanges.. Better rules could bring in big companies and help real blockchain payments grow over time.
This does not mean Bitcoin is going down. The real issue is how these new rules change how much people use stablecoins and how much money is moving in the crypto world.
💬 Do rules help build trust or make people stop using stablecoins?
#CryptoRegulation #Stablecoins #Khan62 2 #USDT #USDC #CryptoNews #Blockchain #SouthKorea
$BTC $XRP $BNB
Personal thoughts, not advice, on money matters.
South Korea is planning to change its Foreign Exchange Transactions Act to make sure that stablecoin payments across borders are watched closely. 👀
The purpose is to stop dollars such as USDT and USDC from getting around regular money controls while making things more clear and open.
🏦 In addition a new Digital Asset Basic Act is being proposed to make rules for issuers stronger including how much money they need to keep in reserves and how to protect customers.
📊 My opinion: In the term more strict rules might add costs and confusion for exchanges.. Better rules could bring in big companies and help real blockchain payments grow over time.
This does not mean Bitcoin is going down. The real issue is how these new rules change how much people use stablecoins and how much money is moving in the crypto world.
💬 Do rules help build trust or make people stop using stablecoins?
#CryptoRegulation #Stablecoins #Khan62 2 #USDT #USDC #CryptoNews #Blockchain #SouthKorea
$BTC $XRP $BNB
Personal thoughts, not advice, on money matters.