South Korea acknowledges legal status of cryptocurrency, Binance issues KRW stablecoin

According to Binance official news, Binance and South Korean fintech company BxB.Inc reached a cooperation and jointly issued a stable currency Binance KRW (BKRW) anchored in Korean won (KRW), issued at a ratio of 1 BKRW = 1 KRW. It is reported that BKRW is a BEP2 asset issued on Binance Chain and will be integrated into Binance's global ecosystem. It is worth noting that this afternoon, the entire parliament of the South Korean Parliament also officially passed the amendments to the "Reporting and Utilization of Information on Certain Financial Transactions" amendment, which recognized the legal status of cryptocurrencies.