South Korean Central Bank Establishes Cryptoassets Department to Strengthen Digital Asset Oversight

The Bank of Korea (BOK) has taken a decisive step into the digital asset space with the launch of its new 'Cryptoassets Department' on July 30, 2025. This marks the central bank's most significant organizational commitment to cryptocurrency regulation and market surveillance. The department will focus on monitoring crypto markets, stablecoins, and related legislation, operating under the BOK's Financial Settlement Bureau in Seoul.

Simultaneously, the BOK's 'Digital Currency Research Lab' will be rebranded as the 'Digital Currency Lab' on July 31, shifting its focus to practical testing of tokenized assets. This institutional restructuring reflects South Korea's strategic pivot toward active participation in digital asset markets rather than passive observation.

Governor Rhee Chang-yong's recent comments comparing deposit tokens to bank-issued stablecoins underscore the central bank's growing interest in private sector collaboration. The MOVE also signals heightened regulatory attention on Korean won-pegged stablecoins and evolving central bank digital currency strategies.