South Korea's central bank advocates intervention in the approval of the Korean won stablecoin

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 be involved from the initial approval stage. Ko Kyeong-cheol, head of the electronic finance team at the Bank of Korea, stressed at a recent financial law conference that stablecoins could have a significant impact on the central bank's ability to implement policies related to monetary policy, financial stability, and payment settlements. He emphasized that the Bank of Korea should play a role in the approval process to minimize potential negative impacts of digital assets on the central bank's policy objectives.