South Korean Regulator Plans to Look at Stablecoins' Role in Money Laundering

South Korea's Financial Services Commission (FSC) intends to look into the proportion of stablecoins being used on crypto exchanges to prevent money laundering. The FSC's "Risk Assessment Index Development, Improvement, and Application Methods Study for New Business Areas" report said that financial authorities consider stablecoins to be highly susceptible to money laundering. South Korean authorities have been proactive with regard to digital assets in recent years, with some 13 crypto-related bills awaiting debate in the country's parliament as of August.