Bank of Korea won’t issue stablecoins: Here’s why

The Bank of Korea has ruled out directly operating stablecoin businesses, with Governor Hyun Song Shin telling lawmakers on October 12 that private companies should handle their issuance and operations while the central bank continues developing its institutional digital currency system. During a parliamentary audit held at the Bank of Korea headquarters in Seoul, Shin said private businesses were the appropriate operators of stablecoins, while the central bank would continue providing input on monetary stability and payment systems.

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