🇰🇷 South Korea’s Central Bank Drives Stablecoin Rules During Crypto Boom

The Bank of Korea (BOK) is taking a leading role in shaping South Korea's next phase of crypto regulations, with a strong focus on stablecoins, citing their potential risks to monetary policy and financial stability. In its latest report, BOK highlighted concerns that widespread stablecoin use could weaken central bank control and introduce crypto market volatility into traditional finance.

As crypto adoption surges over 35% of South Koreans now trade crypto—the government is preparing new legislation for late 2025. This second phase will expand on existing laws by targeting stablecoin regulation, token listing transparency, and tighter oversight of digital asset services.

Meanwhile, the BOK is progressing with its CBDC trials, positioning its central bank digital currency as a safer, state-backed alternative to private stablecoins. The next pilot phase, set for October, will test retail peer-to-peer payments.

By advancing both regulation and innovation, South Korea aims to become a global leader in responsible crypto governance.

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