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South Korea Halts CBDC Pilot as Stablecoin Policy Shifts Under New Leadership
South Korea Halts CBDC Pilot as Stablecoin Policy Shifts Under New Leadership
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BTCCSquare news:
South Korea's central bank has suspended preparations for the second phase of its digital won pilot, signaling a strategic reassessment amid the new administration's push for stablecoin adoption. The Bank of Korea informed participating institutions of the pause just as President Lee Jae-myung proposes lowering barriers for corporate stablecoin issuance.
The abrupt halt reflects growing institutional caution as monetary authorities balance innovation with risk management. Senior Deputy Governor Ryoo Sang-dai recently emphasized the need for bank-led stablecoin rollouts with robust safeguards—a stance at odds with the administration's vision of expanded private sector participation.
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