Latest News and Articles about Bank of Korea
South Korea’s Stablecoin Bills Stall: Falling Behind in Global Crypto Race
South Korea’s Stablecoin Legislation Grinds to a Halt: Frustration Boils Over in Global Crypto Race South Korea, long a beacon of tech innovation and crypto adoption, is stuck in a regulatory quagmire over stablecoin legislation, leaving industry players and blockchain advocates fuming. As other nations sprint ahead with clear frameworks, this delay threatens to derail […]
Read MoreBank of Korea Rejects Non-Bank Stablecoins: Risk of Chaos or Regulatory Overreach?
Bank of Korea Slams Brakes on Non-Bank Stablecoins: Financial Chaos or Overreach? South Korea’s central bank, the Bank of Korea (BOK), has issued a stern warning against non-bank entities issuing stablecoins pegged to the Korean Won (KRW), citing risks of market confusion, monetary policy disruption, and even money laundering. Governor Lee Chang-yong, speaking at a […]
Read MoreSouth Korea’s Bank of Korea Forms Cryptoassets Department for Stablecoin Regulation
South Korea’s Bank of Korea Launches Cryptoassets Department for Stablecoin Oversight South Korea’s central bank, the Bank of Korea (BOK), has taken a decisive step into the cryptocurrency realm by establishing a new Cryptoassets Department within its Financial Settlement Bureau. This move, centered on monitoring Korean won (KRW)-pegged stablecoins and navigating legislative shifts, signals Seoul’s […]
Read MoreSouth Korean Banks Launch Won-Backed Stablecoin to Rival Foreign Crypto Giants
Eight South Korean Banks Unite for Won-Backed Stablecoin: A Power Play Against Foreign Crypto Dominance Eight of South Korea’s top commercial banks have banded together to launch a won-backed stablecoin, a groundbreaking move by the private sector to challenge the growing shadow of foreign dollar-pegged cryptocurrencies. This bold consortium, backed by key regulatory bodies, is […]
Read MoreBank of Korea Doubts Won Stablecoin as Circle Pushes for South Korean Crypto Market Entry
Bank of Korea Digs In: Skepticism Over Won Stablecoin Persists Despite Circle’s Charm Offensive South Korea, often hailed as the crypto capital of Asia, is caught in a high-stakes tug-of-war over the future of digital money. The Bank of Korea (BOK) remains deeply wary of issuing a won-pegged stablecoin, even as Circle, the powerhouse behind […]
Read MoreSouth Korea Rejects Bitcoin Reserves, Echoing Global Central Bank Caution
South Korea Joins Global Choir in Rejecting Bitcoin Reserves Amid Crypto Enthusiasm On March 17, 2025, South Korea’s central bank, the Bank of Korea, announced its rejection of Bitcoin as a reserve asset, citing the cryptocurrency’s notorious volatility. Despite the country’s vibrant crypto scene, this decision aligns with global trends where other major central banks […]
Read MoreSouth Korea Rejects Bitcoin Reserves, Explores Won-Backed Stablecoin
Bitcoin In Reserves? South Korea’s Central Bank Won’t Bite South Korea’s central bank, the Bank of Korea (BOK), has firmly rejected the inclusion of Bitcoin in its foreign exchange reserves, citing the cryptocurrency’s significant price swings and failure to meet International Monetary Fund (IMF) standards. However, local advocates and legislators are pushing forward with plans […]
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