The new head of South Korea's financial regulatory authority opposes Crypto Assets and supports the development of local stablecoins.

[Bitcoin] According to reports, the nominee for the chairman of the Financial Services Commission (FSC) of South Korea in 2025, Lee Seok-won, stated in a written response to the confirmation hearing that crypto assets lack intrinsic value and cannot serve as a store of value or medium of exchange due to high fluctuation. He also expressed concerns about pension funds investing in crypto assets. This statement has sparked strong opposition from the South Korean crypto industry, with industry insiders believing it to be a regressive viewpoint, especially at a time when global institutions are actively adopting cryptocurrencies.

It is worth noting that Li Xuyuan holds an open attitude towards stablecoins, stating that he will support the development plan for local stablecoins in South Korea, seeking a balance between innovation and regulation.

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FreeRidervip
· 09-01 10:39
South Korea is backtracking again.
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RadioShackKnightvip
· 09-01 10:36
It seems that the Korean won has collapsed.
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