Seminar for the Legislation of Stablecoins (KRW Stablecoin #1)

Since the listing of USD-based stablecoins (USDT, USDC) on Upbit and Bithumb — Korea's leading digital asset exchanges — stablecoin trading volumes have grown rapidly. Following the USDT listing on Upbit in June 2024, trading volume has accelerated further, averaging around KRW 11.3 trillion per month over the past six months. In the absence of a domestic legal framework governing the issuance and distribution of stablecoins, significant USD purchases that fall outside official foreign-exchange statistics are effectively being routed through stablecoin transactions.

Recognizing this regulatory gap, Hashed Open Research and Four Pillars have organized this seminar to advocate for the timely establishment of relevant legislation. The seminar aims to lay the groundwork for stablecoin legislation in Korea by providing an in-depth analysis of current trading dynamics and proposing key considerations for the legislative process.

The seminar brings together stakeholders from domestic banks, securities firms, fintechs, exchanges, and policymakers to share perspectives across sectors and discuss a desirable direction for legislation. We warmly invite your participation and interest as we work toward sustainable growth and a competitive regulatory framework for Korea's stablecoin market.