Bank of Korea Launches Virtual Asset Team to Oversee Crypto Markets

The Bank of Korea has established a new “Virtual Asset Team” within its Financial Payment Systems Bureau to oversee crypto markets and lead efforts in creating a Korean won-pegged stablecoin. This strategic move reflects increased focus on stablecoin regulation and market readiness as South Korea shifts from CBDC research to practical digital currency initiatives. The team will monitor crypto trends, legislative changes, and technological needs to enhance financial oversight and support the country’s evolving digital asset framework.