South Korean presidential candidate Lee Jae-myung proposes issuing a won-based stablecoin

PANews reported on May 20th that according to Cointelegraph, South Korean presidential candidate Lee Jung--myung recently proposed issuing a coins pegged to to the Korean won, aimed at curbing capital outflows and strengthening financial sovereignty. Lee Jae-myout a that lawly prohibits domesticically stablecoins, leading domestic exchanges to rely on USDT, USDC and other US dollar stablecoins. In the first quarter of 2025, the country's crypto exchanges recorded .8 trillion Korean won (approximately $40.8 billion) in asset outflows,flows with half stablecoins.

< p proposal is part of digital asset strategy of strategy,, also including promoting spot crypto ETF legalization, allowing national pension funds and other institutions to invest in cryptocurrencies after meeting price stability conditions. To support implementation, he proposed establishing a government-regulated comprehensive monitoring system and reducing transaction fees. However, a researcher from the Korea Capital Market Institute, Shin Bao-seong warnedcoexpand money supply and and supply control to privateissuing parties. On May 13th, the South Korean Democratic Party established a "Digital Assets Committee, planning to introduce the ""Digital Assets Basic Law", requiring stablecoin issuers to hold at least 500 billion Korean won in funds and obtain approval from the Financial Committee. Currently>. Currently exists multiple crypto asset-related committees led by financial regulatory bodies.