The Altcoin Vector #39

insights.glassnodePublished on 2026-01-28Last updated on 2026-01-28

Abstract

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Executive Summary

Bank of Korea Urges Bank-Led Won Stablecoin Issuance

The Bank of Korea (BOK) has urged that the issuance of Korean won-pegged stablecoins should be led by commercial banks, warning that private issuance could undermine monetary policy and create foreign exchange and financial stability risks. In a report submitted to the National Assembly, the central bank described stablecoins as "currency-like substitutes" and emphasized that their rollout must consider broader economic impacts, not just industrial profits. The BOK expressed concerns that stablecoins could be used to circumvent foreign exchange regulations and stressed that non-bank issuers might conflict with Korea’s separation of banking and commerce principles. It recommended that banks, which are subject to strict regulatory standards, should be the primary issuers, with any expansion beyond banks proceeding cautiously after risk assessments. The report reflects ongoing debates among policymakers about who should be allowed to issue won stablecoins and echoes the BOK’s previous warnings on the matter. While acknowledging stablecoins' potential role in the digital asset revolution, the bank proposed structural safeguards, including a bank-focused consortium model and a statutory interagency policy body for oversight. The BOK cited the U.S. GENIUS Act as an example of cross-agency supervision. However, this bank-led approach has faced opposition from industry members, including some policymakers, who argue that clearer rules for issuers could sufficiently mitigate risks.

TheNewsCrypto11m ago

Bank of Korea Urges Bank-Led Won Stablecoin Issuance

TheNewsCrypto11m ago

The War Between Stablecoins and Banking May Not Actually Exist

The article argues that the perceived war between stablecoins and traditional banking is largely illusory, drawing a parallel to the "Javon's Paradox" where technological efficiency (like ATMs) expands, rather than shrinks, an industry. From the supply side, blockchain and stablecoins are dismantling fragmented global payment infrastructures, replacing them with a single, open ledger. This drastically reduces the cost and complexity of offering financial services, enabling companies like Sling Money to operate globally with a small team. Examples like M-Pesa in Kenya and UPI in India show that lowering transaction costs to near zero leads to a massive expansion in financial inclusion, serving previously unbanked populations. On the cost side, the piece highlights the immense compliance burden on banks, which spend hundreds of billions annually on tasks like auditing and reconciling opaque transactions across correspondent banks. Shared ledger technology directly solves this by providing a single source of truth, eliminating reconciliation layers. Projects like J.P. Morgan's Onyx and the Canton Network demonstrate how banks are using this technology to achieve near-instant settlement and free up trapped capital. The convergence of these forces—lower barriers to entry and reduced internal operational costs—points to a future where more financial services are available to more people at a lower cost, much like cloud computing democratized access to computing power. The conclusion is that stablecoins will not destroy the banking system but will instead become a foundational infrastructure upon which more products are built, ultimately expanding the entire market.

Odaily星球日报16m ago

The War Between Stablecoins and Banking May Not Actually Exist

Odaily星球日报16m ago

Bitdeer Liquidates BTC to Evaluate Opportunities

Bitdeer, a Bitcoin mining company, has liquidated all of its self-owned Bitcoin tokens, bringing its treasury balance to 0 BTC. The company clarified that this move is not indicative of broader market sentiment but is instead a strategic decision to evaluate non-binding land acquisition opportunities. The liquidation occurred over the weekend, a period of all-time low mining profits. Despite selling its holdings, Bitdeer confirmed that its hash rate will continue to grow and it will continue mining for shareholders' benefit. This development comes amid a broader market downturn, with over $233 million in Bitcoin liquidations in the last 24 hours and BTC's price falling nearly 3% to approximately $66,165. Community reactions are mixed, with some speculating the move is due to market uncertainty, while others see it as a normal trading activity.

TheNewsCrypto21m ago

Bitdeer Liquidates BTC to Evaluate Opportunities

TheNewsCrypto21m ago

Here’s The Level To Keep An Eye On If The Ethereum Triangle Breakdown Plays Out

In recent months, the Ethereum price has declined significantly alongside Bitcoin, with investors selling off coins in anticipation of further drops. Analysts predict continued market decline, expecting Ethereum to suffer a major retracement before finding a bottom. A technical analysis by Melikatrader on TradingView indicates Ethereum is consolidating in a symmetrical triangle pattern, struggling around the $1,977 level. The lack of upward momentum suggests bears have taken control. The price is nearing the triangle's apex, requiring a major move to confirm direction. The expected move is bearish. Traders should watch for a breakdown below the triangle's lower support at $1,912. If this support breaks, Ethereum could swiftly drop to the next target at $1,781, the final level of the triangle breakdown. Patience and confirmation are advised.

bitcoinist31m ago

Here’s The Level To Keep An Eye On If The Ethereum Triangle Breakdown Plays Out

bitcoinist31m ago

Zcash (ZEC) Under Pressure: Will It Lose the $240 Support?

The cryptocurrency market remains under bearish pressure with prevailing fear sentiment. Zcash (ZEC) has declined by 2.46% in 24 hours, trading around $247.23 after hitting a low of $230.91. Key support is at $240.34, and a break below could lead to further declines. Technical indicators signal weakness: the MACD is below zero, the CMF at -0.17 indicates selling pressure, and the RSI at 35.36 shows bearish control without being oversold. The Bear Bull Power reading of -9.72 confirms strong selling dominance. A bullish reversal could push ZEC toward resistance near $252.68, but current signals suggest continued downward risk unless momentum shifts.

TheNewsCrypto52m ago

Zcash (ZEC) Under Pressure: Will It Lose the $240 Support?

TheNewsCrypto52m ago

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