The Bank of Korea advocates for the careful introduction of stablecoins, starting with regulated banks. Deputy Governor Ryoo Sang-dai stresses that this phased approach is essential for managing their impact on monetary systems.
The South Korean government seeks to legislate won-based stablecoins to remain competitive internationally. The current administration is progressing on this front to ensure stablecoins align with global trends.
Economic risks, particularly rising housing prices and household debt, are significant concerns. The Bank of Korea is reforming the foreign exchange market to attract more international investments.
Leave a Reply