South Korea’s Central Bank has announced it will reorganize its structure to include a “cryptoassets department” as a wave of public sector stablecoin -related activity continues to build momentum. The South Korean media outlet News1 reported that the Bank of Korea (BOK) has established a new division named the “Cryptoasset Department.” Cryptoassets Department: New BOK Division to Monitor Crypto Sector The BOK also announced that its Digital Currency Research Lab, which operates within its Financial Settlement Bureau, will be renamed the Digital Currency Lab on July 31. News1 explained: “This appears to be an attempt to emphasize its status as a business unit.” The bank added that it has also reorganized the roles of the teams that make up the lab, and will assign staffers to test token usability. The BOK said its Cryptoasset Team Department would operate within its Financial Settlement Bureau. This division, it said, will be responsible for monitoring the crypto market. Its remit will also include Korean won-pegged stablecoins and legislative matters. The media outlet wrote that experts have interpreted the reshuffle as an “attempt to better respond to recent discussions on stablecoin issuance, while continuing work on its central bank digital currency (CBDC).” The Bank of Korea remains concerned at the tariff impact on economic expansion rather than inflation, Governor Rhee Chang-yong says https://t.co/e4gpV9bZqs — Bloomberg (@business) July 1, 2025 CBDC Plans on Ice? The BOK recently hit the pause button on its CBDC rollout plans, seemingly in direct response to the government’s stablecoin legalization plans. The bank seems to believe that CBDC-based deposit tokens are no different from bank-supported KRW stablecoins. The BOK Governor Rhee Chang-yong said last year that deposit tokens are essentially “stablecoins issued by banks.” Rhee said earlier this month: “No matter if we are talking about a won stablecoin or a deposit token, we will need a digital currency in the future. We will carefully consider whether it is better to gradually move forward with a focus on the banking sector or to expand this to the wider private sector.” From Breakingviews – Breakingviews – Samsung’s $16.5 bln Tesla coup comes with caveats https://t.co/SRFpPxv2Ey https://t.co/SRFpPxv2Ey — Reuters (@Reuters) July 29, 2025 South Korean Stablecoin Regulation Incoming The bank’s move comes just hours after the nation’s two biggest political parties rolled out stablecoin regulation bills . Both bills propose giving the Financial Services Committee sweeping regulatory powers over the stablecoin industry. Critics think this will significantly diminish the role of the BOK. And the BOK has previously hit out at private sector stablecoin adoption plans. It claims that KRW-pegged coins could undermine Seoul’s ability to conduct effective monetary policy. Some of the country’s biggest tech firms have already registered KRW stablecoin-themed trademarks in anticipation of a green light from Seoul.South Korea’s Central Bank has announced it will reorganize its structure to include a “cryptoassets department” as a wave of public sector stablecoin -related activity continues to build momentum. The South Korean media outlet News1 reported that the Bank of Korea (BOK) has established a new division named the “Cryptoasset Department.” Cryptoassets Department: New BOK Division to Monitor Crypto Sector The BOK also announced that its Digital Currency Research Lab, which operates within its Financial Settlement Bureau, will be renamed the Digital Currency Lab on July 31. News1 explained: “This appears to be an attempt to emphasize its status as a business unit.” The bank added that it has also reorganized the roles of the teams that make up the lab, and will assign staffers to test token usability. The BOK said its Cryptoasset Team Department would operate within its Financial Settlement Bureau. This division, it said, will be responsible for monitoring the crypto market. Its remit will also include Korean won-pegged stablecoins and legislative matters. The media outlet wrote that experts have interpreted the reshuffle as an “attempt to better respond to recent discussions on stablecoin issuance, while continuing work on its central bank digital currency (CBDC).” The Bank of Korea remains concerned at the tariff impact on economic expansion rather than inflation, Governor Rhee Chang-yong says https://t.co/e4gpV9bZqs — Bloomberg (@business) July 1, 2025 CBDC Plans on Ice? The BOK recently hit the pause button on its CBDC rollout plans, seemingly in direct response to the government’s stablecoin legalization plans. The bank seems to believe that CBDC-based deposit tokens are no different from bank-supported KRW stablecoins. The BOK Governor Rhee Chang-yong said last year that deposit tokens are essentially “stablecoins issued by banks.” Rhee said earlier this month: “No matter if we are talking about a won stablecoin or a deposit token, we will need a digital currency in the future. We will carefully consider whether it is better to gradually move forward with a focus on the banking sector or to expand this to the wider private sector.” From Breakingviews – Breakingviews – Samsung’s $16.5 bln Tesla coup comes with caveats https://t.co/SRFpPxv2Ey https://t.co/SRFpPxv2Ey — Reuters (@Reuters) July 29, 2025 South Korean Stablecoin Regulation Incoming The bank’s move comes just hours after the nation’s two biggest political parties rolled out stablecoin regulation bills . Both bills propose giving the Financial Services Committee sweeping regulatory powers over the stablecoin industry. Critics think this will significantly diminish the role of the BOK. And the BOK has previously hit out at private sector stablecoin adoption plans. It claims that KRW-pegged coins could undermine Seoul’s ability to conduct effective monetary policy. Some of the country’s biggest tech firms have already registered KRW stablecoin-themed trademarks in anticipation of a green light from Seoul.
South Korean Central Bank Unveils New ‘Cryptoassets Department’
South Korea’s Central Bank has announced it will reorganize its structure to include a “cryptoassets department” as a wave of public sector stablecoin-related activity continues to build momentum.
The South Korean media outlet News1 reported that the Bank of Korea (BOK) has established a new division named the “Cryptoasset Department.”
Cryptoassets Department: New BOK Division to Monitor Crypto Sector
The BOK also announced that its Digital Currency Research Lab, which operates within its Financial Settlement Bureau, will be renamed the Digital Currency Lab on July 31. News1 explained:
The bank added that it has also reorganized the roles of the teams that make up the lab, and will assign staffers to test token usability.
The BOK said its Cryptoasset Team Department would operate within its Financial Settlement Bureau.
This division, it said, will be responsible for monitoring the crypto market. Its remit will also include Korean won-pegged stablecoins and legislative matters.
The media outlet wrote that experts have interpreted the reshuffle as an “attempt to better respond to recent discussions on stablecoin issuance, while continuing work on its central bank digital currency (CBDC).”
CBDC Plans on Ice?
The BOK recently hit the pause button on its CBDC rollout plans, seemingly in direct response to the government’s stablecoin legalization plans.
The bank seems to believe that CBDC-based deposit tokens are no different from bank-supported KRW stablecoins.
The BOK Governor Rhee Chang-yong said last year that deposit tokens are essentially “stablecoins issued by banks.” Rhee said earlier this month:
South Korean Stablecoin Regulation Incoming
The bank’s move comes just hours after the nation’s two biggest political parties rolled out stablecoin regulation bills.
Both bills propose giving the Financial Services Committee sweeping regulatory powers over the stablecoin industry.
Critics think this will significantly diminish the role of the BOK. And the BOK has previously hit out at private sector stablecoin adoption plans.
It claims that KRW-pegged coins could undermine Seoul’s ability to conduct effective monetary policy.
Some of the country’s biggest tech firms have already registered KRW stablecoin-themed trademarks in anticipation of a green light from Seoul.
Market Opportunity
Threshold Price(T)
$0.007016
$0.007016$0.007016
USD
Threshold (T) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Coinbase CEO: We will build a financial super application to replace traditional banks
PANews reported on September 20th that Coinbase CEO Brian Armstrong confirmed in an interview with Fox Business that the company's vision is to build Coinbase into a full-service crypto "super app" that replaces traditional banks. The company plans to offer a full suite of financial services, from payments to credit cards and rewards, all powered by crypto. He stated: "Yes, we do want to be a super app that offers a variety of financial services, and I believe cryptocurrencies have the power to do that."
Share
PANews2025/09/20 19:04
Polygon Tops RWA Rankings With $1.1B in Tokenized Assets
The post Polygon Tops RWA Rankings With $1.1B in Tokenized Assets appeared on BitcoinEthereumNews.com. Key Notes A new report from Dune and RWA.xyz highlights Polygon’s role in the growing RWA sector. Polygon PoS currently holds $1.13 billion in RWA Total Value Locked (TVL) across 269 assets. The network holds a 62% market share of tokenized global bonds, driven by European money market funds. The Polygon POL $0.25 24h volatility: 1.4% Market cap: $2.64 B Vol. 24h: $106.17 M network is securing a significant position in the rapidly growing tokenization space, now holding over $1.13 billion in total value locked (TVL) from Real World Assets (RWAs). This development comes as the network continues to evolve, recently deploying its major “Rio” upgrade on the Amoy testnet to enhance future scaling capabilities. This information comes from a new joint report on the state of the RWA market published on Sept. 17 by blockchain analytics firm Dune and data platform RWA.xyz. The focus on RWAs is intensifying across the industry, coinciding with events like the ongoing Real-World Asset Summit in New York. Sandeep Nailwal, CEO of the Polygon Foundation, highlighted the findings via a post on X, noting that the TVL is spread across 269 assets and 2,900 holders on the Polygon PoS chain. The Dune and https://t.co/W6WSFlHoQF report on RWA is out and it shows that RWA is happening on Polygon. Here are a few highlights: – Leading in Global Bonds: Polygon holds 62% share of tokenized global bonds (driven by Spiko’s euro MMF and Cashlink euro issues) – Spiko U.S.… — Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) September 17, 2025 Key Trends From the 2025 RWA Report The joint publication, titled “RWA REPORT 2025,” offers a comprehensive look into the tokenized asset landscape, which it states has grown 224% since the start of 2024. The report identifies several key trends driving this expansion. According to…
Share
BitcoinEthereumNews2025/09/18 00:40
Explosive 25% Penalty On Nations Trading With Tehran
The post Explosive 25% Penalty On Nations Trading With Tehran appeared on BitcoinEthereumNews.com. Trump Iran Tariffs: Explosive 25% Penalty On Nations Trading
Share
BitcoinEthereumNews2026/02/07 08:10