South Korea
Digital Asset
a16z Policy Chief: "If Only Banks Can Issue Stablecoins in Korea, Innovation Will Be Stifled"
- Miles Jennings, a16z's global head of crypto policy, spoke at the 'a16z Crypto Korea Summit' held at Josun Palace Seoul Gangnam on October 1 (Korea time).
- He warned that restricting stablecoin issuance to banks only would limit market competition and innovation in Korea.
- He called for Korea to follow the U.S. model, allowing non-bank companies to issue stablecoins once they satisfy specific regulatory requirements, identifying 'who can be an issuer' as the key issue in Korea's stablecoin legislation.