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Finance

Race to pre-empt won stablecoin as third financial hub nears

South Korea\'s financial authorities raised their target for household loan growth this year and NH Nonghyup Bank resumed variable-rate mortgage lending, drawing attention to whether mortgage hurdles will fall across the sector. COFIX rose for a fourth month, increasing borrowers\' interest burdens. Financial support for mid-to-low credit borrowers and small businesses is spreading, while the government and regulators advance plans tied to regional finance hubs and debate over a won stablecoin shifts toward payment, distribution and custody infrastructure.

Finance

Financial regulators block 66.36 billion won in voice phishing losses, step up crackdown on mule accounts

South Korea\'s financial authorities said they prevented 66.36 billion won in losses over nine months by sharing suspected voice phishing information and will also move to eradicate mule accounts. The Financial Services Commission discussed the status of the ASAP AI platform with police, the tax agency, watchdogs, security bodies and major banks. Data sharing via ASAP has expanded to telecom firms and investigative agencies under a revised law.

Crypto

Thailand scrutinises large USDT transactions, steps up monitoring of stablecoins and cash

Thailand\'s central bank has begun monitoring large stablecoin transactions centred on USDT as part of a crackdown on money laundering, illegal finance and so-called grey money. Working with the Securities and Exchange Commission, it is auditing USDT, cash and currency exchange transactions to identify and block illicit flows. Oversight will extend to cash networks, exchange booths, gold bar trades and suspicious stablecoin activity, while cash rules will require source reporting and full disclosure for deposits above 5 million baht.