Global Stablecoin Regulation

South Korea

Last Updated: May 20, 2026

Plasma

Last Updated: May 20, 2026

As of September 2025, South Korea is moving toward a won-backed stablecoin regime but the final statutory/technical standards are pending. A KRW-pegged token (KRW1) has been launched in a pilot/PoC phase with bank-held reserves, while lawmakers and regulators finalize the framework that will govern issuance, reserves, and supervision.

Shin & Kim – Korea's emerging stablecoin framework

Financial Times – policy tug-of-war on stablecoins

+ 1

Legal Status

Unclear

Regularity Clarity

3/5

Regime Status

In Consultation

Allowed Types

Unspecified

Classification

Crypto Asset

Proposed classification under DABA distinguishes 'asset-linked digital assets' (including stablecoins) from other digital assets, with licensing by FSC and potential BOK role on stability issues. This is a bill, not yet settled law.

Shin & Kim – DABA categories & stablecoin treatment

Dentons Lee – DABA legislative status

Regulatory Authorities

Financial Services Commission (FSC)

Policy lead and licensing/supervision for virtual-asset businesses under the new framework

Bank of Korea (BOK)

Central bank; advocates for strong role (even veto/backstop) given monetary/FX stability concerns

Top Issuers

Tether (USD₮)

Circle (USDC, EURC)

Consumer Protection

Reserve Requirements

100% fiat reserves held with licensed institutions (proposed).

Auditing

Segregation/bankruptcy-remoteness, disclosures/attestations, and supervisory powers for inspections (proposed).

Redemption Rights

Exact cadence (e.g., monthly attestations vs quarterly audits; API proof-of-reserve) will depend on final texts (proposed).

Recent Developments

Remittance Race

Find the cheapest and fastest way to send money abroad, comparing traditional methods alongside stablecoin options like Plasma.