South Korea Eyes Domestic Crypto Issuance as Governor Warns on Stablecoin Risks – What’s the Plan?

Bank of Korea Governor Rhee Chang-yong revealed South Korea is considering a new registration regime that would allow domestic institutions to issue virtual assets, while warning that won-denominated stablecoins could enable capital flow circumvention. Speaking at the Asian Financial Forum in Hong Kong, Rhee emphasized that exchange rate volatility could trigger rapid shifts into USD stablecoins and large fund transfers. The announcement comes as South Korean regulators remain deadlocked over comprehens ...