South Korea’s Central Bank to Discuss Stablecoin Issuance

The South Korean central bank, the Bank of Korea (BOK), is preparing for a crucial meeting on August 23rd in Seoul, specifically at Jung-gu Bank Hall. This gathering brings together top commercial bank leaders and key figures like Governor Lee Chang-yong and Vice Governor Park Jong-woo. The focus will be on exploring the potential issuance of a stablecoin pegged to the Korean won. This step follows the BOK’s previous cautious stance on this subject, driven by concerns about maintaining policy effectiveness and managing financial stability risks that might arise from unregulated non-bank sector participation.