FSS proposes applying the current Payment Act to won stablecoins
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AI-assisted source synthesis · not an independent investigation.
On November 10, 2026, an official from South Korea’s Financial Supervisory Service (FSS) said that, while the Digital Assets Basic Act has yet to be passed, stablecoins used for payments should be subject to the current Electronic Financial Transactions Act. The dedicated bill remains stalled, and a draft is expected to be released later that month. Meanwhile, the Financial Services Commission (FSC) is drawing up a separate set of rules that would allow tokenized stocks, bonds, and funds to be traded in South Korea starting February 4, 2027, with the public comment period open through November 11. The report also said that, because local regulatory barriers prevent trading in tokenized stocks, some traders have turned to overseas platforms offering tokenized products based on shares of major South Korean companies.
AI-written from reports · updated 11 hours ago
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- CryptopolitanSouth Korea’s FSS proposes applying the current Electronic Financial Transactions Act to stablecoin payments as a dedicated bill remains stalled
An official at South Korea’s Financial Supervisory Service (FSS) said that, while the Digital Asset Basic Act has yet to pass, stablecoins used for payments should be governed by the current Electronic Financial Transactions Act. A draft of the bill is expected to be released later this month. The Financial Services Commission (FSC) is separately developing rules that would allow tokenized stocks, bonds and funds to trade in South Korea starting February 4, 2027, and has opened a public comment period through November 11. Because local regulatory barriers have hindered trading in tokenized stocks, some traders have turned to offshore platforms offering tokenized products based on shares of major South Korean companies.
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