South Korea Cautions on Non-Bank Stablecoin Issuance

The Bank of Korea (BOK) has issued a warning regarding the potential risks associated with non-bank stablecoin issuance. Governor Rhee Chang-yong expressed concerns about the possibility of these entities circumventing capital regulations designed to ensure financial stability and protect depositors. His remarks highlight the BOK’s cautious approach to regulating stablecoins in South Korea, where the regulatory landscape for digital currencies remains dynamic.