ChainCatcher message, Bank of Korea (Central Bank) Governor Lee Chang-yong stated on the 19th: "In the future, in order to incorporate programming functions into currency, a Korean won stablecoin is necessary, but it would be wiser to start the introduction from banks and then gradually expand." On that day, while attending the National Assembly's Planning and Finance Committee, Lee Chang-yong addressed lawmakers' questions regarding the timing and issuing entities of the stablecoin, pointing out the potential risks of stablecoins one by one, demonstrating a cautious attitude.
Regarding the conditions for issuing entities, he emphasized: "To prevent money laundering issues, only large enterprises that have systems such as **KYC (Know Your Customer) and reach a certain scale should be allowed to issue. However, if large non-bank enterprises are allowed to issue, the existing bank-centered financial industry structure may undergo unknown changes, so caution is required." He explained that this is equivalent to allowing payment and settlement banks that possess narrow banking functions, which may lead to a decline in bank deposits and profitability.