Korea’s Bank-Led Stablecoin Rollout Lacks Logic: Kaia Exec

The Bank of Korea’s push for the banking sector to lead the rollout of won-denominated stablecoins lacks logic, says Dr. Sangmin Seo, the chair of the Kaia DLT Foundation.

In a report released on Monday, the central bank argued that banks are already subject to strict regulations, including capital, foreign exchange, and Anti-Money Laundering requirements, which could help minimize any risks associated with introducing stablecoins to the country.

At the same time, the BOK wants a policy consultative body jointly made up of currency, foreign exchange,…