South Korea's Financial Services Commission (FSC) has declined a proposal to extend the Bank of Korea's emergency powers over stablecoin issuers. The FSC stated that small-scale stablecoin operations do not threaten monetary policy, making such powers unnecessary. This decision reflects a global stance, as no major economy currently offers direct liquidity support to stablecoin issuers. The FSC highlighted the importance of balanced regulation to foster innovation while ensuring effective oversight.