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South Korea’s central bank is ramping up its focus on digital currencies and crypto oversight by restructuring its CBDC teams and forming a new virtual asset committee. The move comes as local banks explore won-pegged stablecoins and lawmakers push for stablecoin legislation.
- The Bank of Korea has restructured its CBDC teams to focus on practical business applications and formed a new virtual asset committee for crypto market oversight.
- The Virtual Asset Team will manage stablecoin discussions, legislative coordination, and government collaboration amid rising interest in won-pegged stablecoins.
- Proposed stablecoin legislation and local bank initiatives drove the central bank’s decision to enhance its digital asset regulatory framework.
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Related Tags: Stablecoin
Other Tags: Bank of Korea, CBDC