South Korea is showing interest in launching KRW-pegged stablecoins, but political challenges are slowing their development. Former Secretary-General of the National Assembly Lee Kwang-jae emphasizes the need for their listing on major trading platforms.
Slow Development of Stablecoins in South Korea
The South Korean government demonstrates interest in introducing KRW-pegged stablecoins. However, legislative obstacles are slowing growth. Lee Kwang-jae emphasizes that these coins need to be accessible on international trading platforms for successful adoption.
Need for Global Exchange Listings
For KRW-pegged stablecoins to be effective, they must be open to cosmopolitan trading. Lee argues that being listed on exchanges like Binance and Coinbase would enable non-Korean traders to freely buy and sell these coins.
Access Issues for Foreign Traders
Current South Korean regulations restrict exchanges like Upbit and Bithumb to local traders. Lee believes this needs to change so that foreign traders can freely trade KRW-pegged stablecoins.
Regulatory barriers follow the plans to implement KRW-pegged stablecoins in South Korea. For success, these digital currencies should appear on international markets, integrate into business, and become part of everyday life.
