Overview
- The Bank of Korea is insisting that any won‑pegged stablecoin issuer be at least 51% owned by a consortium of banks, a position opposed by financial regulators seeking wider participation.
- Financial authorities are resisting a BOK proposal for a legally mandated interagency council that would require unanimous votes on policy decisions.
- Lawmakers are reviewing three bills that each set a 5 billion won minimum capital requirement while diverging on whether issuers may pay interest on balances.
- The BOK warns that nonbank issuance resembles narrow banking and could heighten AML, FX, and market‑power risks, arguing banks are best placed to manage compliance.
- Commercial efforts continue under uncertainty, with Naver preparing a wallet with Hashed and the Busan Digital Exchange and exploring a possible tie‑up with Dunamu, as bank–tech pilots such as BDACS proceed.