South Korea's Central Bank Advocates for Limited Stablecoin Issuance

South Korea's central bank has reaffirmed its stance that only licensed commercial banks should be permitted to issue won-denominated stablecoins. Bloomberg posted on X, highlighting the bank's concerns about potential money laundering and financial stability risks associated with broader issuance. The central bank's position underscores the importance of regulatory oversight in the burgeoning digital currency sector, aiming to mitigate risks while fostering innovation within a controlled framework. This approach reflects a cautious strategy to balance the benefits of digital currencies with the need for robust financial safeguards.