South Korean stablecoin outflows top $367M in June: Report
South Korea recorded 560.3 billion won ($367 million) in stablecoin outflows to overseas exchanges in June, marking 18 straight months of net monthly outflows. Data from the Financial Supervisory Service showed the country’s five largest exchanges sent 2.7 trillion won abroad in stablecoins while receiving 2.2 trillion won from foreign platforms. Market participants linked the flows to demand for products not widely available on domestic exchanges, including overseas derivatives, tokenized real-world assets, DeFi, and staking. The outflows have increased pressure on regulators to tighten oversight of cross-border crypto activity. Lawmakers are pushing for stronger investor protection and faster rulemaking as South Korea develops a comprehensive digital asset law that would cover stablecoin issuance and market rules. Regulators are also considering broader transfer reporting requirements and tougher action against unregistered overseas exchanges serving South Koreans.
