South Korea Sees $367 Million in Stablecoin Outflows in June as Regulators Weigh Tighter Rules

South Korea recorded 560.3 billion won, or roughly $367 million, in net stablecoin outflows to overseas exchanges in June, marking the eighteenth consecutive month of net outflows from the country’s crypto market. The country’s five major exchanges sent 1.81 billion dollars worth of stablecoins abroad while receiving 1.44 billion dollars back from foreign platforms.

Investors Chase Products Unavailable at Home

Market participants say the outflows stem largely from demand for offerings restricted or absent on domestic platforms, including overseas derivatives, tokenized real world assets, decentralized finance products and staking services. A lawmaker who obtained the data has urged regulators to reassess investor protection and cross-border oversight frameworks as the trend continues.

New Licensing Framework Under Consideration

The figures arrive as South Korea works to finalize its Digital Asset Basic Act, the country’s first comprehensive digital asset law. A recent policy report recommended introducing interim licensing guidance and phasing in stablecoin rules ahead of the broader law, though lawmakers remain divided over which institutions should be permitted to issue won-pegged stablecoins.

Regulators Target Unregistered Overseas Platforms

South Korea’s Financial Intelligence Unit has also proposed expanding Travel Rule reporting to cover transactions below roughly $650 and called for stronger enforcement against unregistered foreign exchanges, citing regulatory arbitrage risks tied to the ongoing outflows.