South Korean stablecoin outflows reach $367M

• South Korea recorded $367 million in net stablecoin outflows to overseas crypto exchanges during June.
• Five major exchanges sent $1.81 billion offshore and received $1.44 billion from foreign platforms.
• Regulators are considering tighter rules as monthly net stablecoin outflows reach 18 consecutive months.

South Korea recorded 560.3 billion won ($367 million) in net stablecoin outflows to overseas exchanges during June.

Five major exchanges sent 2.7 trillion won ($1.81 billion) offshore and received 2.2 trillion won ($1.44 billion).

Market participants linked the transfers to demand for overseas derivatives, tokenised assets, decentralised finance and staking products.

South Korea has now recorded net stablecoin outflows for 18 consecutive months, according to Financial Supervisory Service data.

Officials are considering temporary licensing guidance and phased stablecoin rules before finalising the Digital Asset Basic Act.

The Financial Intelligence Unit has also proposed wider transfer reporting and stronger action against unregistered overseas exchanges.