South Korean FSC urgently seeks input from securities firms on stablecoins

South Korean financial authorities have begun urgently collecting feedback from the securities industry regarding the distribution and settlement of stablecoins, the Maeil Business Newspaper reported. The Korea Financial Investment Association (KOFIA) has emailed its major member companies, asking for suggestions on regulatory improvements for stablecoins. This move is seen as an effort to gauge the needs of the securities industry amid growing concerns from the virtual asset and investment sectors that the banking sector has had undue influence in the digital asset and security token (STO) markets.