Kaia announced intentions to launch a won-pegged stablecoin after President Lee Jae-myung’s inauguration. However, legal barriers exist due to South Korea’s currency issuance laws, requiring legislative support for private-sector issued currencies.
The stock prices of Kakao Pay and Danal surged by 29.9%, reflecting growing market confidence in stablecoin regulations. The new administration aims to expedite the establishment of regulatory frameworks for cryptocurrency, boosting investor optimism.
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