The Bank of Korea advocates for intervention in the approval of the Korean won stablecoin

ChainCatcher news, according to Yonhap News Agency, the Bank of Korea emphasized that if a stablecoin backed by the Korean won is launched, the central bank should intervene from the initial approval stage. Ko Kyeong-cheol, head of the Bank of Korea's electronic finance team, stressed at a recent financial law conference that stablecoins could significantly impact the central bank's ability to implement policies related to monetary policy, financial stability, and payment settlement.

He emphasized that the Bank of Korea should play a role in the approval process to minimize the potential negative effects of digital assets on the central bank's policy objectives.