South Korea Moves Ahead With Bold Stablecoin Law as US Stalls GENIUS Act

• South Korea plans equity and reserve rules for stablecoin issuers
• US GENIUS Act remains stalled despite procedural push in Senate
• South Korean stablecoin trading hit $42B in early 2025

South Korea has introduced a bill to legalize stablecoins and attract digital asset companies in the country. President Lee Jae-myung’s Democratic party introduced the proposal which outlines a formal regulation system for stablecoin issuance. Meanwhile, the United States is uncertain about the GENIUS Act, which has made it to trail behind others.