Bank of Korea Establishes Dedicated Virtual Asset Division to Oversee Crypto and Stablecoin Developments

The Bank of Korea (BOK) has launched a new division under its financial payment systems bureau to monitor cryptocurrency markets and support legislative discussions on virtual assets. This move signals a deeper institutional commitment to shaping South Korea's regulatory framework for digital assets.

The division will play a pivotal role in developing the central bank's strategy for won-denominated stablecoins, aligning with broader efforts to modernize financial infrastructure. In a parallel development, the BOK has rebranded its Digital Currency Research Team as the Digital Currency Team, reflecting a shift toward practical implementation of central bank digital currency (CBDC) initiatives.

South Korea's proactive stance mirrors global central bank trends, as monetary authorities worldwide accelerate work on digital asset regulation and CBDC development. The BOK's restructuring positions it to remain competitive in the rapidly evolving landscape of institutional cryptocurrency adoption.