The Bank of Korea has urged regulators to limit the issuance of won-denominated stablecoins to licensed commercial banks only, highlighting concerns over money laundering and financial stability. This move reflects a broader regulatory trend, as central banks globally are advocating for stricter controls on private stablecoin issuers to mitigate systemic risks. In South Korea, authorities have intensified their oversight on stablecoins due to worries about their potential effects on the national currency.
Bank of Korea urges regulators to limit won-denominated stablecoin issuance
