The Bank of Korea (BOK) is taking a proactive stance on KRW-backed stablecoins, asserting its right to intervene even at the initial approval stage. This marks the BOK's first official statement on the matter. Go Kyung-cheol, head of the BOK's Electronic Finance Team, emphasized the potential impact of stablecoins on monetary policy, financial stability, and payment systems at a recent Korea Financial Law Association conference. He stated the necessity for substantial central bank intervention during the approval process to mitigate any adverse effects on policy execution. This move signals the BOK's intent to closely regulate the emerging stablecoin market within South Korea. The focus on pre-emptive oversight suggests a commitment to maintaining control over monetary policy and ensuring financial stability amidst the growing adoption of digital assets. ```