스테이블코인의 국내 규제방향

초록

The term stablecoin refers to a cryptoasset that aims to maintain a stable value by being pegged to a specific asset or basket of assets. Stablecoins are considered to be an important bridge between the traditional financial system and the cryptoasset market, and have the potential to be widely used as a means of payment. Therefore, this paper analyzes the current status and problems of stablecoins and seeks to find ways to effectively regulate stablecoins through legislative cases in various countries. In particular, this paper analyzes the MiCA of the European Union (EU) and the Financial Instruments and Exchange Act of Japan as examples, and compares and analyzes the regulatory framework and features of each. Based on this, we emphasize the need for a domestic regulatory framework that can ensure the stability and reliability of stablecoins, and propose detailed regulatory measures such as entry regulation for stablecoin issuers, reserve asset regulation, and redemption claim regulation. If stablecoins are incorporated into the traditional financial system and their value stability is guaranteed, they can improve the convenience of cross-border transaction and can be expected to innovate the payment and settlement system in the future due to their programmability.

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