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#South_Korea is studying allowing companies to issue local stablecoins
The newly elected South Korean President, Lee Jae-myung, is seeking to expedite the implementation of his electoral promise to allow the issuance of local stablecoins, as his party has introduced a cryptocurrency bill aimed at enhancing transparency and encouraging competition in the sector.
The bill stipulates that local companies can issue stablecoins with a capital of no less than 500 million won (368,000 US dollars), and they must ensure the redemption of funds through reserves and obtain approval from the Financial Services Commission.
The trade of stablecoins in South Korea is experiencing significant growth, with 57 trillion won (42 billion dollars) traded in the first quarter of this year across five major local exchanges. This new legislation aims to bolster such transactions and support one of the largest cryptocurrency markets in the region.
On the other hand, the new Korean president faces opposition from the Bank of Korea, which has warned that non-bank stablecoins could weaken the effectiveness of monetary policy.
Source: Cointelegraph.
#tradingtypes101
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#orderTypes101
#liquidity101
#Tradingpairs101
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#nasdaqEtfupdate
The newly elected South Korean President, Lee Jae-myung, is seeking to expedite the implementation of his electoral promise to allow the issuance of local stablecoins, as his party has introduced a cryptocurrency bill aimed at enhancing transparency and encouraging competition in the sector.
The bill stipulates that local companies can issue stablecoins with a capital of no less than 500 million won (368,000 US dollars), and they must ensure the redemption of funds through reserves and obtain approval from the Financial Services Commission.
The trade of stablecoins in South Korea is experiencing significant growth, with 57 trillion won (42 billion dollars) traded in the first quarter of this year across five major local exchanges. This new legislation aims to bolster such transactions and support one of the largest cryptocurrency markets in the region.
On the other hand, the new Korean president faces opposition from the Bank of Korea, which has warned that non-bank stablecoins could weaken the effectiveness of monetary policy.
Source: Cointelegraph.
#tradingtypes101
#cexvsdex101
#orderTypes101
#liquidity101
#Tradingpairs101
#Cryptosecurity101
#cryptofees101
#Tradingmistakes101
#cryptocharts101
#TradingTools101
#marketrebound
#nasdaqEtfupdate
Ethereum rises by more than 8% and the price exceeds $2700
The Ethereum cryptocurrency has risen by more than 8% in the past 24 hours, surpassing the price of $2700, and regaining its high levels once again.
Ethereum is the second largest cryptocurrency by market capitalization in the world, after Bitcoin, with a price reaching $2742, leading to a market value of $330.8$ETH billion.
This surge comes amid a wave of increases in major cryptocurrencies, following the announcement of an impending trade agreement between the United States and China, and resolving the tariff crisis, amidst a sense of optimism in the crypto community.
The rise in the cryptocurrency was supported by Ethereum exchange-traded funds (Spot ETH ETFs) in the U.S., which recorded the longest consecutive period of positive cash flows since May 16, attracting investments amounting to about $837.5 million, reflecting the growing institutional interest in the second largest digital asset globally after Bitcoin.
Source: CoinMarketCap
The Ethereum cryptocurrency has risen by more than 8% in the past 24 hours, surpassing the price of $2700, and regaining its high levels once again.
Ethereum is the second largest cryptocurrency by market capitalization in the world, after Bitcoin, with a price reaching $2742, leading to a market value of $330.8$ETH billion.
This surge comes amid a wave of increases in major cryptocurrencies, following the announcement of an impending trade agreement between the United States and China, and resolving the tariff crisis, amidst a sense of optimism in the crypto community.
The rise in the cryptocurrency was supported by Ethereum exchange-traded funds (Spot ETH ETFs) in the U.S., which recorded the longest consecutive period of positive cash flows since May 16, attracting investments amounting to about $837.5 million, reflecting the growing institutional interest in the second largest digital asset globally after Bitcoin.
Source: CoinMarketCap
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