Gate News message. The Bank of Korea and the Banque de France have recently jointly hosted a two-day symposium in South Korea on digital assets and climate-related topics. The discussions focused on central bank digital currencies (CBDCs), payment systems, macroeconomic risks, and policy tools. The conference is part of a long-term academic cooperation project between the two sides that began in 2024, indicating that major economies are accelerating collaborative research in the field of digital finance.
One of the key focuses of the meeting is the impact of stablecoins on the financial system. Data show that the global stablecoin market value has risen to about $311B, more than 6 times higher than five years ago. In 2025, the transaction volume also surpassed $3.4 trillion, highlighting its critical role in cross-border payments and institutional settlement.
On the regulatory front, South Korea has clearly stated that stablecoins pegged to the won must be issued by licensed banks in order to prevent capital outflows and weaken the transmission of monetary policy. Relevant legislation is expected to be advanced in mid-2026. France, meanwhile, has defined digital assets as transferable intangible assets and requires stablecoin issuers to complete full compliance under the EU MiCA framework by June 30, 2026.
At the same time, the implementation of the U.S. “GENIUS Act” is establishing a unified framework for stablecoin issuance and reserve management, driving global regulatory convergence. Multiple countries are drawing on similar models, seeking to strike a balance between financial innovation and risk control.
Against the backdrop of shifts in the global liquidity landscape and the rapid expansion of digital assets, the role of central banks is being redefined. Cross-border policy coordination and the unification of regulatory standards may become a key variable in the next phase of digital finance system evolution.
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