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South Korean Central Bank Establishes Cryptoassets Department Amid Stablecoin Surge
South Korean Central Bank Establishes Cryptoassets Department Amid Stablecoin Surge
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BTCCSquare news:
The Bank of Korea (BOK) has unveiled a structural overhaul, introducing a dedicated 'Cryptoassets Department' to monitor digital asset markets and oversee won-pegged stablecoins. The move signals heightened institutional engagement with cryptocurrency as South Korea positions itself at the forefront of regulatory innovation.
Simultaneously, the central bank is rebranding its Digital Currency Research Lab to emphasize its operational mandate, with staff reassignments to focus on token usability testing. Analysts interpret these measures as strategic preparations for potential stablecoin issuance while maintaining progress on the country's CBDC initiative.
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