Overview
- The FSC’s draft excludes USDT and USDC because the Foreign Exchange Transactions Act does not recognize stablecoins as external payment instruments.
- Listed companies would be permitted to hold a limited set of top non-stablecoin assets such as Bitcoin and Ethereum, with investments reportedly capped at about 5% of their own capital.
- A partial amendment to the FX law that would classify stablecoins as payment instruments is before the National Assembly and remains under review.
- Corporations can still use stablecoins via personal wallets and overseas platforms, but those transactions sit outside South Korea’s official regulatory framework.
- An industry insider says the corporate-guidelines task force has completed its work, leaving further changes dependent on broader legal updates.