Bank of Korea renews call for bank-led won stablecoins as bill stalls

The Bank of Korea has reiterated its support for the development of bank-led stablecoins pegged to the South Korean won, as legislative efforts to regulate these digital currencies have stalled. The central bank emphasizes that stablecoins should be issued by banks to ensure stability and consumer protection. Despite the push for regulation, the proposed bill is facing delays in the National Assembly. The Bank of Korea's stance reflects a growing concern over the risks associated with privately issued stablecoins.

Read the full article: Coin Telegraph