South Korea, the US, and China announced new steps that could shape the future of crypto worldwide.
- South Korea to review and possibly lower crypto exchange fees.
- Trump pushes Congress to pass stablecoin bill fast.
- China plans global expansion of its digital yuan.
South Korea Launches Crypto Exchange Fee Investigation
South Korea’s Financial Services Commission (FSC) will check how much local crypto platforms charge users. The goal is to see if those fees are fair and to find ways to lower costs for everyday investors.
This move supports the country’s new president, Lee Jae-myung, who wants to make crypto trading more affordable. He promised to cut trading costs during his campaign to help young investors.
The FSC will ask exchanges how they set fees and how much they collect. Officials said they want to compare South Korea’s fees with those of other countries. They also want to understand what users think is reasonable.
Trump Urges Quick Approval of Stablecoin Bill
In the US, President Donald Trump told lawmakers he wants the stablecoin-focused GENIUS Act passed right away. The bill recently passed the Senate with a 68-30 vote and is now headed to the House of Representatives.
Trump said the bill would help the US lead in digital assets. He asked Congress to pass it “ASAP” and without any changes.
If passed, the GENIUS Act would set rules for how stablecoins — digital currencies tied to the value of a real-world asset — are used and managed in the US.
China Expands Global Plan for Digital Yuan
The People’s Bank of China wants to take its digital yuan to the world stage. The bank is opening an international hub in Shanghai to manage global use.
Its chief, Pan Gongsheng, said the bank plans to create a currency system where many digital currencies — not just the US dollar or euro — help power the global economy.
He also warned that traditional payment systems could be affected by politics, making the digital yuan a safer, more controlled option for cross-border payments.
Source: cointelegraph.com