Author name: Crypto Explorer

South Korea Halts CBDC Pilot as Banks Pivot to Stablecoins, Fueling a New Wave of Private Issuance

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South Korea’s central bank has suspended its planned second phase of digital won (CBDC) trials, shifting the country’s policy momentum firmly toward stablecoins. The sudden pause comes as commercial banks lose interest in the state-led digital currency project, redirecting resources toward private stablecoin initiatives, a trend reinforced by President Lee Jae-myung’s vocal support for crypto-friendly policies.

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ECB Warns Stablecoins Could Trigger Bank Runs; European Commission Says Risks Are Contained Under MiCA

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The European Central Bank (ECB) has raised concerns that stablecoins could spark a bank run, warning they might pose significant risks to financial stability in the Eurozone. In response, the European Commission released a report on June 25 stating that the risks posed by stablecoins remain within a manageable range under the EU’s Markets in Crypto-Assets Regulation (MiCA).

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Wyoming Launches State-Backed Stablecoin WTST, Partners with Aptos, Sei, and LayerZero

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In a groundbreaking move, the U.S. state of Wyoming has officially entered the stablecoin race. The state announced it will launch WTST (Wyoming Stable Token), the first state-issued stablecoin in the United States backed by U.S. Treasury bonds. The initiative reflects a bold step by a local government to bridge traditional finance and blockchain infrastructure, signaling a new era of government-backed digital assets.

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