South Korea is taking steps to enhance cryptocurrency regulation by creating a new Virtual Asset Committee and intensifying work on stablecoins.
Establishment of the Virtual Asset Committee
The Bank of Korea (BOK) has established a dedicated Virtual Asset Committee to oversee cryptocurrency and stablecoin developments. This committee will:
* Monitor crypto-asset and won-stablecoin activity. * Coordinate with government ministries on legal frameworks. * Provide ongoing analysis to inform regulation.
According to a BOK spokesperson, this cross-agency collaboration is essential as South Korea formalizes its approach to digital assets.
Restructuring of CBDC Research Teams
Reflecting a shift from theory to practice, the central bank has overhauled its digital currency research teams:
* **Project Management Unit:** Oversees end-to-end CBDC initiatives. * **Technology & Analysis Team:** Conducts technical R&D on digital currencies. * **Infrastructure Team:** Builds a digital-voucher management platform for deposit-token trials.
This reorganization signals BOK’s intent to move beyond academic study and toward real-world CBDC applications.
Banks Moving Forward with Stablecoins
In parallel, eight leading Korean banks are advancing their own won-pegged stablecoins, targeting a Q4 2025–Q1 2026 launch. Banks argue that stablecoins offer greater flexibility and lower implementation costs than a full CBDC. The BOK appears receptive to this argument and may gradually delegate issuance responsibilities while retaining oversight to safeguard monetary policy effectiveness.
These coordinated steps—from strengthened crypto supervision and business-focused CBDC teams to private-sector stablecoins—demonstrate South Korea’s commitment to a dynamic, innovation-friendly digital currency ecosystem.
