South Korea’s financial regulators are preparing guidelines that will likely exclude dollar-pegged stablecoins such as USDT and USDC as permissible investments for listed companies. This decision stems from the belief that allowing investments in stablecoins would conflict with the current legal framework, as the Foreign Exchange Transaction Act has not recognized stablecoins as legal means of cross-border payment. The regulatory body aims to provide clear investment guidelines while avoiding the legal uncertainty that could arise from including stablecoins, especially given that an amendment to formally recognize such stablecoins is still under deliberation in the National Assembly.
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