[South Korea Proposes Stablecoin Issuers to Be Bank-Controlled, Minimum Paid-in Capital Set at 5 Billion KRW] BlockBeats News, January 8: South Korea's plan to allow banks to issue stablecoins pegged to the Korean won has faced opposition from lawmakers, highlighting divisions between the ruling Democratic Party, financial regulators, and the central bank. Currently, the Financial Services Commission (FSC) of South Korea has shifted its stance to support the Bank of Korea's (BOK) proposal, which restricts stablecoin issuance to consortia led by banks with majority control. Under the proposed amendment, stablecoins can be issued by consortia in which banks hold a majority stake, but banks must maintain overall majority control (over 50% ownership). While tech companies can become the single largest shareholder, their ownership must remain below the banks' overall stake. The proposal would impose stricter requirements on cryptocurrency trading platforms, such as higher IT stability standards, mandatory compensation for losses caused by hacking attacks, and fines of up to 10% of annual revenue. Stablecoin issuers would need a minimum paid-in capital of 5 billion KRW (approximately $3.7 million), and regulators may raise this threshold as the market evolves.