Foresight News|Jul 09, 2026 07:28
[Bank of Korea Governor: Stablecoins Should Be Introduced as Soon as Possible, Issuance Should Be Bank-Centric]
Foresight News reports, according to Edaily, Bank of Korea Governor Shin Hyun-song stated during a full meeting of the National Assembly's Finance and Economy Committee that South Korea should establish a regulatory framework for Korean won stablecoins as soon as possible. He emphasized that stablecoins and deposit tokens should maintain a competitive and complementary relationship. When introducing Korean won stablecoins, it is necessary to prioritize issuance through bank-centered consortia and establish safeguards such as statutory policy institutions among relevant organizations to minimize risks to the greatest extent. He also called for expediting the legislative process for the Basic Act on Digital Assets (Phase 2 Legislation). Additionally, Yoo Dong-soo, Chairman of the National Assembly's Political Affairs Committee, expressed the need to accelerate legislation and urged the Financial Services Commission to submit a government proposal.
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