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LAST UPDATE: June 2, 2025
Bank of Korea Rhee Says Cautious About Won Stablecoin as It Might Bypass Capital Controls
Bank of Korea Governor Rhee Chang-yong expressed caution regarding the introduction of a won-based stablecoin, citing concerns that it could bypass capital controls and complicate monetary policy.
Insight
Rhee’s remarks reflect the central bank’s prudence in adopting digital currencies, balancing innovation with financial stability. The potential for stablecoins to circumvent capital controls poses risks to monetary policy effectiveness. The Bank of Korea’s stance underscores the need for comprehensive regulatory frameworks to manage digital currency integration. This approach ensures that technological advancements align with national economic objectives.