A South Korean lawmaker urged the government to accelerate the legalization and widespread adoption of stablecoins.

PANews reported on December 20th that, according to Cryptopolitan, a South Korean lawmaker urged the South Korean government to cooperate with traditional financial institutions to accelerate the legalization and widespread adoption of stablecoins. The lawmaker also warned that if South Korea delays, it may fall behind as global payment standards evolve.

The lawmaker pointed out that stablecoins have become an irreversible trend in the South Korean financial system. "The question is no longer whether stablecoins should be launched; the only question now is how quickly and how well we should launch them." He described stablecoins as an essential tool for cross-border payments, trade settlements, and remittances.