South Korea Plans Foreign Exchange Law Amendment to Regulate Stablecoin Payments

TL;DR South Korea plans to amend its Foreign Exchange Transactions Act this year to regulate stablecoins as payment instruments and improve monitoring of cross-border digital asset transfers. The Bank of Korea is preparing reporting systems and international cooperation measures while authorities address mixers, personal wallets and potential regulatory gaps. The amendment is not yet enacted and will develop alongside the broader Digital Asset Basic Act, which remains under final government consultation. South Korea plans to amend its Foreign Exchange Transactions Act this year to bring stablecoin payments and cross-border digital asset transfers under oversight. The Bank of Korea said it is coordinating with the government on the planned amendment . The initiative would treat stablecoins as payment instruments within the foreign-exchange regime rather than leave them outside existing oversight channels.

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