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Bank of Korea Seeks Oversight on Won-Pegged Stablecoins Amid Monetary Policy Concerns
Bank of Korea Seeks Oversight on Won-Pegged Stablecoins Amid Monetary Policy Concerns
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South Korea’s central bank is pushing for regulatory authority over stablecoins tied to the won, warning that unchecked issuance could disrupt monetary policy. The Bank of Korea argues these digital assets—if widely adopted as de facto currency—could complicate interest rate management and liquidity control.
Monetary officials cite the U.S. Federal Reserve’s approach as precedent, where central banks maintain oversight through legislative frameworks. The MOVE reflects growing global scrutiny of stablecoins as hybrid financial instruments that blur the line between private money and sovereign currency.
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