South Korea's Financial Supervisory Commission commissions research on global stablecoin legislation

South Korea's Financial Supervisory Commission conducts second-phase research on virtual asset legislation, focusing on anti-money laundering measures for stablecoins.

According to News1, the Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) of South Korea commissioned a study on August 6th on the second phase of virtual asset legislation and anti-money laundering (AML) measures for stablecoins.

The FSC stated that the upcoming legislation is expected to include stablecoins in the regulatory framework, allowing them to be used for payments and cross-border transfers. The study will review global regulatory approaches to stablecoins and examine applicable anti-money laundering and countering the financing of terrorism (CFT) standards.