<ul data-eligibleForWebStory="false"><li>Bank of Korea's Governor warns about stablecoins issued by non-bank entities, citing risks of market confusion and interference with monetary policies and regulations.</li><li>There are concerns that indiscriminate issuance of won-pegged stablecoins could impact monetary policy implementation and conflict with foreign exchange liberalization policies.</li><li>Proposed legislation in South Korea aims to establish a regulatory framework for crypto assets, including a potential licensing system for stablecoin issuers, allowing non-bank entities to participate in stablecoin issuance.</li><li>Bank officials and financial institutions in South Korea are preparing for potential scenarios where banks may establish joint ventures to issue stablecoins collectively while engaging with non-bank entities for stablecoin issuance.</li></ul>

Bank Of Korea Warns Of Stablecoins From Non-Bank Entities, Claims Risk Of Market Confusion

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