Bank of Korea Launches Virtual Asset Committee for Market Monitoring


#SouthKorea's central bank has established a dedicated Virtual Asset Team to monitor the #crypto market and coordinate government policy.


The committee will oversee discussions related to #stablecoins and virtual assets during the legislative process.


The Bank of Korea renamed its CBDC research teams to reflect their transition into practical business departments actively exploring digital currency initiatives.


The move comes as South Korean banks propose $KRW-pegged stablecoins and lawmakers introduce related legislation.


President Lee Jae Myung's pro-crypto platform, which included allowing stablecoins and crypto #ETFs, has accelerated regulatory development.


The central bank postponed its retail CBDC test in June but may resume once legal uncertainties are resolved.

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July 30, 2025 at 12:53 PM
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