Hong Kong is set to issue licenses for nearly a dozen virtual asset service providers (VASPs) by the end of the year as it balances investor protection and innovation. This comes after a local exchange scam forced regulators to become more stringent. Meanwhile, South Korea is reviewing its stablecoin laws to tighten regulations on cross-border funds transfers, with a focus on stablecoins pegged to the country's won. The country's Ministry of Economy and Finance is reviewing proposals to extend foreign exchange regulations to transactions involving fiat-pegged stablecoins.



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