Bank of Korea defends bank-first stablecoin plan amid bill deadlock
The post Bank of Korea defends bank-first stablecoin plan amid bill deadlock appeared on BitcoinEthereumNews.com. The Bank of Korea has reaffirmed that won-denominated stablecoins should initially be issued through bank-led consortiums, reinforcing its position as South Korea’s digital asset legislation remains stalled. Summary Bank of Korea has reaffirmed support for bank-led issuance of won-backed stablecoins. The central bank plans to expand deposit-token pilots for public payments and services. Disagreements over stablecoin rules continue to delay South Korea’s Digital Asset Basic Act. According to local reports from Digital Asset and EDaily, the Bank of Korea (BOK) restated its position in documents submitted on Thursday to the National Assembly’s finance committee. The central bank argued that bank-led consortiums should receive priority when issuing won-backed stablecoins and also proposed creating a statutory policy body that would bring together financial regulators and other