Experts warn that the rising popularity of dollar-based stablecoins could diminish transactions in the Korean won, risking the Bank of Korea’s ability to regulate monetary policy. Lee Jae-myung, a presidential candidate, vows to introduce a KRW-pegged stablecoin if elected.
The discussions emphasize the critical need for financial regulators to maintain control amidst pressure to adopt prevalent stablecoins. Economists fear that an influx of USDT and USDC could reshape the exchange rate dynamics, affecting the overall economy.
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