Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

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Last updated: 

August 25, 2025

Crypto advocates, IT experts, and media outlets are concerned that lawmakers’ deliberations on South Korea’s stablecoin legislation have “slowed to a standstill.”

The South Korean newspaper Busan Ilbo reported that all four stablecoin-related draft laws submitted to the National Assembly in recent months are currently stuck in the committee stage.

S Korea’s Stablecoin Legislation: Stuck in Committee

The bills’ delay, the newspaper wrote, is due to the fact that regulators and lawmakers cannot agree on key terms. Busan Ilbo wrote:

“Discussions on institutionalizing stablecoins in South Korea are stuck at a standstill. This stems from persistent disagreements between the National Assembly, the government, and the Bank of Korea (BOK).”

The outlet noted that the parties cannot agree on the question of whether they should let fintech and IT firms issue coins.

More conservative voices at the BOK and in the government want to restrict issuance to domestic commercial banks.

The question of whether or not to let fintech firms issue KRW-pegged coins is extremely sensitive in South Korea.

The country’s business space is dominated by large conglomerates known as chaebol. All of these firms have advanced finance and tech subsidiaries.

In recent years, internet giants such as Naver and Kakao have also moved into the space. The BOK and others fear that letting firms issue KRW-pegged coins will lead to the rise of big tech-controlled “private currencies.”

Historically, chaebol have wielded enormous political and financial influence in South Korea. The BOK is concerned that surrendering its monopoly on currency issuance to these firms (or new tech giants like Naver) will erode its power.

Conversely, the BOK exercises considerable regulatory powers over the commercial banking space. As such, it seems ready to dig its heels in on the matter.

Equity Requirements

The four bills all feature varying requirements for stablecoin issuers. The most progressive of the quartet proposes ensuring issuers have a minimum of 500 million won ($360,026) in equity capital.

This bill would essentially open the door to startups that wish to start issuing KRW-pegged stablecoins.

But the most conservative of the bills states that only firms with a minimum of 5 billion won ($3.6 million) in equity capital can enter the market.

Busan Ilbo wrote that the review process has been divided between two of the National Assembly’s committees, namely the Political Affairs Committee and the Strategy and Finance Committee.

This split is “hindering progress,” the outlet remarked. A senior official at a South Korean blockchain industry firm, speaking to Cryptonews.com on condition of anonymity, said:

“This delay is very frustrating. The government should make up its mind quickly, either way. Our rivals in other countries aren’t being left in limbo like us.”

Playing Catchup with Washington

South Korean critics have pointed to progress on stablecoins in Germany, China, and Japan, as well as the US.

The Japanese Financial Services Agency is reportedly set to authorize the Tokyo-based fintech company JYPC’s bid to issue the nation’s first yen-pegged stablecoin.

Experts in Seoul think that Berlin, Tokyo, and Beijing are all acting in response to events in Washington; keen to avoid a “unipolar” drift toward the US dollar.

US President Donald Trump signed the GENIUS Act into law in July this year. The act sets out a range of regulatory requirements for would-be stablecoin issuers.

Last week, the President of the USD Coin (USDC) issuer Circle Heath Tarbert held a stablecoin-themed meeting with the BOK Governor Rhee Chang-yong.

Tarbert also met with some of South Korea’s top bankers. The Circle chief spoke to top executives from financial behemoths like Kookmin, Woori, and Shinhan.

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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Last updated: 

May 27, 2025

Strategy, the Bitcoin-focused firm formerly known as MicroStrategy, appears to be easing its pace of Bitcoin acquisitions, according to a new report from K33 Research.

The company, led by co-founder Michael Saylor, remains the largest publicly traded holder of Bitcoin, but its recent purchase cadence has cooled compared to the frenzied buying seen last November.

In its latest filing, Strategy revealed it bought 4,020 BTC between May 19 and May 25 for $427.1 million, using proceeds from its ongoing $21 billion at-the-market (ATM) offering.

However, capital raised from the program has slowed. Only $348.7 million was deployed during that week—down from $705.7 million the week prior and $1.31 billion in early May.

K33: MSTR Premium Shrinks as Bitcoin Treasury Race Heats Up

K33 Head of Research Vetle Lunde attributes the deceleration to two key factors: a declining premium for MSTR shares relative to the firm’s Bitcoin holdings, and intensifying competition among corporations entering the Bitcoin treasury space.

“The pace of ATM utilization is notably slower than the first round,” Lunde noted.

Between early November and mid-December, Strategy raised an average of $2.13 billion weekly. In contrast, recent averages have dropped to $788 million.

MSTR shares, once trading at a hefty premium to the company’s net Bitcoin asset value, have seen that margin shrink.

Last week, the premium fell from 185% to 163%, marking lows not seen since early April.

According to Lunde, such compression pressures Strategy to dial back aggressive ATM offerings, lest dilution undermine investor confidence.

Meanwhile, more than 70 companies have now adopted Bitcoin treasury strategies, with firms like Twenty One, Nakamoto, Metaplanet, and Trump Media joining the ranks.

Trump Media alone launched its treasury push with a $2.5 billion private placement backed by roughly 50 institutions.

As the field widens, Lunde suggests traders are spreading bets beyond MSTR, diminishing some of its dominance in equity-based Bitcoin exposure.

Despite this, Strategy’s stash now totals 580,250 BTC, valued at $63.3 billion—accounting for over 2.75% of Bitcoin’s capped 21 million supply.

With BTC trading near record highs, demand for Bitcoin treasury firms remains strong. Still, Lunde cautions that most new entrants are niche players, unlikely to disrupt bitcoin’s broader momentum.

“Signs of euphoria are still subdued in spot and derivatives markets,” he said. “Aside from MSTR, most treasury stocks reflect limited segments of the BTC ecosystem.”

Strategy Could Become Top Publicly Traded Company in World

Meanwhile, Jeff Walton, an analyst at Strategy, has said the firm may one day rise to become the top publicly traded company in the world.

Walton believes the company’s unprecedented exposure to Bitcoin, which recently crossed $111,000, gives it a unique edge.

“Strategy holds more of the best asset and most pristine collateral on the planet than any other company, by multiples,” he said.

Macro investor and fund manager Dan Tapiero believes Bitcoin (BTC) could turn bullish amid a potential change in US monetary policy.

In a new thread on the social media platform X, Tapiero says the uncertainty caused by tariffs is having a “growth-dampening impact” on both the US and China.

According to the macro investor, the Federal Reserve could consequently be forced to cut rates, just like China’s central bank already has, catapulting Bitcoin to a rally of over 2x from the current level.

“If US slows hard, could Fed get to 1.4% -250bps (basis points) from here?

Imagine how high Bitcoin would [go] in that scenario.

$200,000+”

Bitcoin is trading at $97,095 at time of writing.

Earlier this week, the central bank of the world’s second-largest economy, the People’s Bank of China (PBOC), announced it would reduce its policy rate it charges commercial banks for short-term loans by 10 basis points from 1.5% to 1.4%.

The PBOC also announced it will lower the reserve requirement ratio, or the amount of cash that commercial banks must hold in reserves, by 50 basis points, per CNBC. Lowering the reserve requirement ratio is expected to release additional liquidity amounting to around one trillion yuan, approximately $138.5 billion, to the market.

Earlier this month, Tapiero said consumer expectations on the US economy have fallen to levels last witnessed during the Global Financial Crisis in March of 2009. The corrective measures that could be taken, argued Tapiero, would impact Bitcoin positively.

“This is extreme data. Much lower rates and US dollar needed to offset fiscal austerity. Fiat debasement equals +BTC.”

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Generated Image: Midjourney

Plus: XRP – free at last?

GM. Crypto’s a giant orchard, and today the fruit is falling fast – don’t worry, tho’, we’ve caught the ripest ones for you.

SEC drops its appeal against Ripple.

News drops: Solana Labs CEO is embarrassed, Australian officials went after fake Binance support + more

Market flavor today

Not too bad, innit? We’ve climbed out of Fear to Neutral, and prices are looking a lot greener.

Why? Well, the FOMC meeting and Fed Chair Jerome Powell’s press conference happened yesterday – and both of ’em played out pretty much as expected.

As predicted, interest rates stayed unchanged for the second time in a row – good-ish news, no surprises there.

What really matters is this: the Fed released its updated dot plot – aka their way of showing where they think interest rates are headed.

Back in December, only one official thought there’d be no rate cuts in 2025. Now, tho’, that number has jumped to four.

That said, the median forecast still suggests two rate cuts this year, meaning there’s still an expectation that interest rates will come down – maybe just not as quickly as some had hoped.

Why the hesitation? The Fed’s economic outlook got a little less optimistic:

• GDP growth expectations were cut from 2.1% to 1.7% – a sign the economy might slow down more than they thought;

• Unemployment is now projected to rise from 4.3% to 4.4%;

• Inflation forecasts were revised higher – the Fed now sees PCE inflation hitting 2.7% instead of 2.5% and Core PCE inflation reaching 2.8%.

TL;DR: the Fed sees a weaker economy and inflation that’s still a bit too high. Plus, tariffs have pushed inflation expectations higher and made everything more unpredictable.

For this reason, Powell made it clear that the Fed isn’t in a hurry to cut rates.

That said, he did reassure markets that if the labor market weakens, the Fed can step in and ease policy.

Now, here’s the part that’s extra important for risk assets like crypto:

The Fed decided to slow down quantitative tightening (QT) starting in April – which is basically their way of pulling money out of the system to keep inflation in check.

And less QT = more liquidity in the system = more money that could flow into crypto.

So, while the Fed is still being cautious, the market seems to be reading between the lines – the overall direction is still pointing toward looser conditions down the line.

Let’s be patient

Memecoin harvest

These memecoins are up so bad, your grandma’s knitting club might be talking about them

Data as of 08:40 AM EST.

Check out these memecoins and plenty more here.

Just in case you live next door to someone like Ripple CEO Brad Garlinghouse or CLO Stuart Alderoty (or literally anyone who cares about Ripple) – don’t be surprised if they’re gonna be blasting music until 5 AM tonight.

And maybe don’t call the cops; let them have this one. It’s a huge day for them.

Here’s the short and sweet version of what’s been goin’ on:

• Back in 2020, the SEC sued Ripple for allegedly selling unregistered securities through XRP;

• In 2023, a court ruled that XRP traded on public exchanges wasn’t a security, but early sales to institutional investors might’ve been;

• Ripple was ready to settle with a $125M fine and move on with life;

• The SEC wasn’t having it – they filed an appeal;

• Ripple hit back with a cross-appeal.

So, you see – 5 years of pure legal insanity.

And it is officially over – the SEC dropped their appeal, which pretty much confirms XRP as a digital commodity, not a security.

This is one of the biggest reversals by the SEC since its leadership changed.

Under ex-chair Gary Gensler, they launched over 100 enforcement actions against crypto companies – but now that they’re backing off, it could mean a chiller regulatory approach ahead.

But that’s not all: Ripple’s cross-appeal is still on the table.

And the SEC probably doesn’t want that to go forward – it could shrink their authority and set a precedent for other cases.

Translation: Ripple is in a powerful negotiating position.

‘Cause, you know, Ripple was initially willing to pay $125M to put the case behind them. But the SEC is changing its stance on crypto, so why would Ripple pay a fine based on a ruling that’s losing relevance?

For that reason, they might try to either:

We’ll see what they decide. Either way, today’s win is a win

News drops

Solana Labs’ CEO, Anatoly Yakovenko, said Solana’s latest ad was embarrassing. The ad took a detour into political messaging – and Yakovenko made it clear they won’t be going down that road again.

Australian officials stopped scammers pretending to be Binance support. Victims were tricked into calling a fake support line and sending crypto to a false “trust wallet.”

Coinbase launched Verified Pools. This new feature creates liquidity pools only verified users can join.

Gotbit’s founder, Aleksei Andriunin, took a plea deal after the feds caught him manipulating crypto markets. His company allegedly ran wash trades, which made them tens of millions between 2018 and 2024.

Juicy memes

@naiivememe