South Korea’s long-awaited stablecoin legislation risks being delayed until next year, as financial authorities brawl with the Bank of Korea (BOK) over the role of banks in the sector.

BOK, Financial Regulators In Disagreement

On Tuesday, Korea JoongAng Daily reported that the highly anticipated stablecoin framework, which is expected to come by the end of 2025, seems unlikely to pass this year, arguing that while regulators aim to open the market to tech companies, the central bank insists that the financial institutions should hold a majority stake in the issuance of any won-pegged token.

According to the local news media outlet, the BOK and regulators agree that banks must be involved in the issuance of won-pegged tokens, but differ on the extent of the financial institutions’ role

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