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South Korea has paused its central bank digital currency (CBDC) initiative, shifting focus to promoting domestic stablecoins. Meanwhile, Hong Kong is advancing its stablecoin regulatory framework to reduce U.S. dollar dependence. Both moves highlight the growing role of crypto in global finance.
- South Korea paused its CBDC pilot due to cost concerns and regulatory ambiguity, favoring stablecoin development under the Digital Asset Basic Act.
- Hong Kong's new Stablecoins Ordinance mandates strict licensing for issuers, aligning with China's de-dollarization strategy and cross-border trade goals.
- Best Wallet Token ($BEST) enhances crypto wallet utility with reduced fees, staking rewards, and governance rights, raising $13.6M in its presale.
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Related Tags: Stablecoin
Other Tags: Paul Chan, Bank of Korea, CBDC, HKMA, Hong Kong, Hong Kong Monetary Authority (HKMA), Web3