Bank Of Korea Backs Bank-Led Won Stablecoins As Bill Faces

Bank Of Korea Backs Bank-Led Won Stablecoins As Bill Faces

The Bank of Korea renewed its support for bank-led won stablecoins as South Korea’s digital asset bill faced fresh delays. The central bank also outlined wider deposit-token tests for public payments and government services under review. The position appeared in materials sent Thursday to the National Assembly’s finance committee, according to a local media report […]

South Korea’s Central Bank Pushes For Fast-Track Won Stablecoins With Mandatory Bank-Majority Ownership

South Korea’s central bank has come out firmly in favour of introducing a won-denominated stablecoin framework without further delay, signalling that the country’s long-pending digital asset legislation may finally be gaining momentum. The Bank of Korea (BOK) used a high-profile parliamentary session on July 9 to press for swift action, while also laying out a clear vision of how it believes the emerging digital currency landscape should be stru…

BOK Governor Urges Swift Won-Stablecoin Law

Bank of Korea Governor Shin Hyun-song has raised the need for swift legislation regarding the Framework Act on Digital Assets (second-phase legislation) related to won-based stablecoins, (Photo courtesy of te Bank of Korea) Bank of Korea Governor Shin Hyun-song has raised the need for swift legislation regarding the Framework Act on Digital Assets (second-phase legislation) related to won-based stablecoins, which is a national task. He also emph…