In brief
- Executives from stablecoin issuers Circle and Tether are set to meet with top figures in some of South Korea’s biggest financial groups this week, according to reports in local media.
- The discussions will reportedly revolve around the potential distribution and use of dollar-pegged stablecoins in South Korea, as well as the issuance of won-backed stablecoins.
- South Korea’s ruling party and the opposition party have expressed differing opinions about how to regulate stablecoins.
Following reports that South Korea is preparing to launch a legal framework for stablecoins in October, top executives from some of the country’s biggest financial groups are set to meet with executives from stablecoin giants Tether and Circle Internet Group this week.
Tether issues USDT, while Circle issues USDC, the world’s two largest stablecoins by market capitalization.
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Author: Will McCurdy
