<ul data-eligibleForWebStory="true"><li>South Korea is moving to legalize won-based stablecoins under new leadership, making it a top economic priority for the administration to reduce reliance on dollar-backed digital currencies.</li><li>A left-wing lawmaker has introduced a bill to create a licensing system and regulatory standards for companies issuing Korean won-based stablecoins to retain domestic capital and reduce currency conversion risks.</li><li>The proposal aims to allow private entities to issue won-pegged stablecoins in industries like gaming, content creation, and e-commerce.</li><li>The initiative seeks to cut costs, diversify foreign exchange risks, and attract investment to bolster South Korea's economic autonomy in the digital age.</li><li>If implemented, the law would position South Korea as a leader in sovereign-backed stablecoin innovation and enhance its monetary independence in the blockchain-driven financial world.</li></ul>

South Korea Moves to Legalize Won-Based Stablecoins Under New Leadership

Discover more