00:03America's stablecoin law takes effect in exactly three and a half months, and it won't put any ownership cap on
00:09crypto exchanges.
00:11Korea is still debating whether a bank must own the majority of any stablecoin issuer.
00:16It's Friday, October 2nd. Let's break down what's happening in Korea's financial sector.
00:21The Genius Act takes effect January 18th next year. Korean lawmakers are weighing a 15-20% cap on exchange
00:29shareholders, versus a competing rule requiring a bank to hold 50% plus one share of any stablecoin issuer.
00:37Separately, Shinhan Bank disclosed a data leak affecting about 25,000 customers and pledged full compensation, and Kakao Group signed
00:46a stablecoin partnership with Korea Investment and Securities this week.
00:50So, what does this mean for Korea's financial sector?
00:54Ownership rules decided in the next few months will determine whether banks, exchanges, or neither end up controlling Korea's stablecoin
01:00infrastructure.
01:02Watch how this resolves before the U.S. framework fully kicks in.
01:06That's today's AI Prism, Finance Daily.
01:10This episode was produced with AI assistance based on Seoul Economic Daily reporting and reviewed by a human editor.
01:16AI Prism is a Wanifra award winning series. We'll be back tomorrow.
01:24We'll be back tomorrow.
