Bank of Korea Endorses Cautious Stablecoin Development Amid Legislative Push

South Korea's central bank has taken a measured stance on stablecoin innovation, with Governor Rhee Chang-yong advocating for a bank-led approach to won-denominated stablecoins. The Bank of Korea acknowledges the potential of programmable money for conditional payments but warns of risks from non-bank issuers, including money laundering and regulatory arbitrage.

Political momentum for digital asset legislation accelerates as the ruling Democratic Party establishes a special committee to advance stablecoin and cryptocurrency ETF bills. This legislative push aligns with President Lee Jae-myung's campaign promises, signaling coordinated action between government and parliament.

Meanwhile, OpenAI's GPT-6 memory announcement failed to generate enthusiasm for AI-related crypto tokens, underscoring the divergence between technological advancements and market sentiment in the digital asset space.