The Bank of Korea once again calls for commercial banks to lead the issuance of the Korean won stablecoin, while the legislative process remains stalled

The Bank of Korea (BOK) submitted a report to the National Assembly's Strategy and Finance Committee, reiterating its stance that the issuance authority of stablecoins linked to the Korean won should be limited to commercial banks. It also proposed the establishment of a bank-centered joint issuance mechanism and a cross-departmental statutory regulatory coordination body, while referencing the joint regulatory framework established by the U.S. GENIUS Act involving the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation as a model.