Stablecoin innovation requires safeguards to avoid disrupting financial systems. South Korea’s FSC focuses on global consistency and regulatory oversight. Legislators’ input crucial in shaping stablecoin regulatory framework decisions. South Korea’s Financial Services Commission (FSC) is tightening its focus on stablecoins, emphasizing that their introduction must be backed by strong safeguards. According to Lee Eog-weon, Chairman of the FSC, stablecoins could transform the nation’s financial ecosystem, but such innovation requires a structured and secure framework to avoid systemic risks. Lee addressed the National Assembly Budget Settlement Special Committee during the 2026 budget review, outlining the commission’s strategic priorities. He explained that any stablecoin framework must revolve around three core principles—global consistency, innovation, and stability. These, he said, would guide South Korea’s transition toward a safer and more innovative digital finance landscape. Also Read: Pundit Says “Own XRP or Get Left Behind,” Here’s Why Balancing Innovation and Financial Stability During the committee session, Lee noted that stablecoins should align with international standards to maintain global consistency. He stressed that digital assets must serve as vehicles for innovation that can be applied in multiple sectors. However, he cautioned that these assets should also operate under firm regulatory oversight, given their potential to disrupt traditional financial systems. He described stablecoins as vital engines for South Korea’s transition into a digital currency era. Consequently, Lee urged policymakers to approach this technology proactively rather than reactively, suggesting that forward-thinking regulation would help the nation harness innovation while maintaining stability. Lawmakers’ Role and Upcoming Stablecoin Legislation Lee also responded to lawmakers’ concerns about the possible restriction of stablecoin operations to banks. He explained that the idea remains under review and is being discussed with relevant authorities. Importantly, he emphasized that lawmakers’ feedback will be an essential part of the final decision-making process. The FSC chief further clarified that several options are under consideration, all intended to promote innovation while safeguarding the system’s integrity. He confirmed that the regulator is progressing with the second phase of legislation on virtual assets, which will include stablecoin regulations. The FSC aims to finalize and submit this legislative phase to the National Assembly before the end of the year. South Korea’s evolving stance signals a commitment to balance innovation with responsibility, as the nation continues shaping its path toward a regulated and sustainable digital financial ecosystem. Also Read: XRP Technology Highlighted Extensively in Confidential London Banking Document: Report The post FSC Chair Highlights Need for Safeguards in South Korea’s Stablecoin Push appeared first on 36Crypto. Stablecoin innovation requires safeguards to avoid disrupting financial systems. South Korea’s FSC focuses on global consistency and regulatory oversight. Legislators’ input crucial in shaping stablecoin regulatory framework decisions. South Korea’s Financial Services Commission (FSC) is tightening its focus on stablecoins, emphasizing that their introduction must be backed by strong safeguards. According to Lee Eog-weon, Chairman of the FSC, stablecoins could transform the nation’s financial ecosystem, but such innovation requires a structured and secure framework to avoid systemic risks. Lee addressed the National Assembly Budget Settlement Special Committee during the 2026 budget review, outlining the commission’s strategic priorities. He explained that any stablecoin framework must revolve around three core principles—global consistency, innovation, and stability. These, he said, would guide South Korea’s transition toward a safer and more innovative digital finance landscape. Also Read: Pundit Says “Own XRP or Get Left Behind,” Here’s Why Balancing Innovation and Financial Stability During the committee session, Lee noted that stablecoins should align with international standards to maintain global consistency. He stressed that digital assets must serve as vehicles for innovation that can be applied in multiple sectors. However, he cautioned that these assets should also operate under firm regulatory oversight, given their potential to disrupt traditional financial systems. He described stablecoins as vital engines for South Korea’s transition into a digital currency era. Consequently, Lee urged policymakers to approach this technology proactively rather than reactively, suggesting that forward-thinking regulation would help the nation harness innovation while maintaining stability. Lawmakers’ Role and Upcoming Stablecoin Legislation Lee also responded to lawmakers’ concerns about the possible restriction of stablecoin operations to banks. He explained that the idea remains under review and is being discussed with relevant authorities. Importantly, he emphasized that lawmakers’ feedback will be an essential part of the final decision-making process. The FSC chief further clarified that several options are under consideration, all intended to promote innovation while safeguarding the system’s integrity. He confirmed that the regulator is progressing with the second phase of legislation on virtual assets, which will include stablecoin regulations. The FSC aims to finalize and submit this legislative phase to the National Assembly before the end of the year. South Korea’s evolving stance signals a commitment to balance innovation with responsibility, as the nation continues shaping its path toward a regulated and sustainable digital financial ecosystem. Also Read: XRP Technology Highlighted Extensively in Confidential London Banking Document: Report The post FSC Chair Highlights Need for Safeguards in South Korea’s Stablecoin Push appeared first on 36Crypto.

                                                                               Powell said the Federal Open Market Committee is weighing interest rates on a meeting-by-meeting basis, with no long-term consensus.                     US Federal Reserve Chair Jerome Powell said the 19 members of the Federal Open Market Committee (FOMC) remain divided on additional interest rate cuts in 2025.At Wednesday’s press conference after the Fed’s 25-basis-point rate cut, Powell said the central bank is trying to balance its dual mandate of maximum employment and price stability in an unusual environment where the labor market is weakening even as inflation remains elevated. Powell said:Powell said that the “median” FOMC projection from the Federal Reserve’s Summary of Economic Projections (SEP), the Fed’s quarterly outlook for the US economy that informs interest rate decisions, projected interest rates at 3.6% at the end of 2025, 3.4% by the end of 2026, and 3.1% at the end of 2027.Read more