The Bank of Korea seeks early intervention in the approval process for Korean won support for stablecoins

According to Yonhap News Agency, the Bank of Korea emphasized that if a stablecoin supported by the Korean won is launched, the central bank should intervene from the initial approval stage. Ko Kyeong cheol, the head of the electronic finance team at the Bank of Korea, emphasized at a recent financial law conference that stablecoins may have a significant impact on the central bank's ability to implement policies related to monetary policy, financial stability, and payment settlement. He emphasized that the Bank of Korea should play a role in the approval process to minimize the potential negative impact of digital assets on the central bank's policy objectives.