Competition over digital currency sovereignty is intensifying globally and in South Korea as the United States moves to bring dollar-based stablecoins into the mainstream and other regions press ahead with regulation. In South Korea, legislation for a won stablecoin is delayed by disagreements over issuers, reserve requirements and oversight. Banks and fintech firms are already moving to secure payment infrastructure. U.S. crypto legislation has also stirred markets, lifting interest in some altcoins while bitcoin swings on geopolitical tensions.

Elon Musk proposed government-paid universal high income as a way to address unemployment caused by artificial intelligence, Business Insider reported. He described it as more generous than basic income, providing enough for a prosperous life beyond basic expenses. Musk also said AI and robotics would create far more goods and services than growth in the money supply, so there would be no inflation. Analysts and academics offered differing views on job losses, wages and retraining.