The Bank of Korea reaffirmed July 9 that won stablecoin legislation should prioritize bank-led consortium issuance, citing materials submitted to the National Assembly’s Strategy and Finance Committee. The central bank said safeguards such as a statutory policy body among relevant agencies remain important, making bank-led issuance the preferred starting point for legal design.
The stance matters because the proposed model would put banks at the center of early won stablecoin issuance, with EDaily describing the consortium approach as one where banks hold 50% plus one share. The Bank of Korea also warned that stablecoins must be assessed beyond industry innovation, including monetary policy, foreign exchange policy and financial stability, making macro risk control the core rationale for its position.
The next step is the legislative process around South Korea’s Digital Asset Basic Act and related stablecoin bills, where the bank-led structure remains contested. Lawmakers are still weighing issuance rights, exchange equity limits and the role of deposit-token pilots, so the policy fight now moves from principle to bill drafting.
Source: Digital Asset and EDaily.
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