Bank of Korea Governor to Meet Bank Chiefs as Stablecoin Debate Heats Up

Governor Bank of Korea Rhee Chang-Yong should meet with the heads of the main commercial banks in the country this month, with an increasing pressure be expected to allow Won to issue Startablecoin Won.

The gathering, which was to be held at the headquarters of the Korea Bank in Seoul 23, June, comes in the midst of an increased discussion that South Korea should regulate digital property.

Stablecoins are likely to dominate the agenda after a renovated encouragement in the political arena.

Last week, the Democratic Party Member of the Min Byung-Deko proposed the “Basic Digital Property Act”, which includes provisions to enable the stablecoin that are attached to the Korean conquered and reduction of capital requirements for publishers, opening the door of Fintech companies.

Political shift comes after South Korea selected Lee Jae-Myung as a president in the rapid election of June 3, launched by the imperratin of his predecessor.

Lee, a longtime advocate of cryptocurrencies, promised to legalize the Bitcoin ETFS video and introduce a regulated stablecoin market to prevent capital outflows.

The South Korean Crypto Stock Exchange transferred digital assets abroad worth $ 40.6 billion in Q1 2025, with about half of that amount in Stablecoin such as USDT and USDC, which promoted concerns about capital flight and monetary sovereignty.

Although Lee’s administration favors the use of Stablecoins, the Central Bank has expressed caution, especially in connection with publishers who are not banks, as it has become an interest in the Central Bank digital currency.

Korea Bank claims that such models could undermine monetary policy and initiate financial instability during crises.

Deputy Governor Lee Jong-‘eol Recently confirmed The Bank explores deposits related to blockchain as a more limited alternative.

He also expressed an alarm because of the spread of foreign stable views, calling them the “most important part” of the Korean landscape of digital assets.

Edited Sebastian Sinclair