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Управляющий Центрального банка Южной Кореи Ри Чан Ён (Rhee Chang-yong) выразил опасения в отношении стейблкоинов, привязанных к корейской воне, поскольку они могут усложнить надзор за иностранными валютами.

South Korea’s central bank has expressed caution over the potential consequences of issuing won-pegged crypto stablecoins, raising concerns that their adoption could inadvertently boost demand for US dollar-backed stablecoins.

Bank of Korea (BOK) Governor Lee Chang-yong warned that such developments may undermine broader monetary policy goals and complicate foreign exchange management.

Stablecoin Policy Clashes with Foreign Exchange Management

Speaking at a press briefing on Wednesday, Governor Lee noted that instead of reducing the influence of dollar-denominated stablecoins, local stablecoin issuance could facilitate their use.

“Issuing won stablecoins may not reduce the use of dollar stablecoins, but rather facilitate the exchange between dollar stablecoins and won stablecoins,” he stated.

According to Lee, this shift could ultimately increase demand for dollar stablecoins, a dynamic that could work against President Lee Jae Myung’s broader agenda of strengthening the role of the Korean won in digital finance.

While President Lee has advocated for the development of KRW-based crypto stablecoins to help reduce capital outflows and build resilience in the digital economy, the BOK’s stance indicates a more cautious approach.

Governor Lee clarified that the central bank is not fundamentally opposed to crypto stablecoins backed by the Korean won but emphasized that a regulatory framework must be in place to manage their impact on financial stability.

He specifically pointed to challenges in foreign exchange oversight and risks to the traditional banking sector. One area of concern involves the shifting of payment and settlement services away from banks toward non-bank entities that would manage stablecoin transactions.

Lee called for a broader discussion on how such a transition might affect bank profitability and the overall structure of the financial industry. “We need to paint the bigger picture on how the banking industry, such as its profitability, [would be affected] in case payment and settlement services move to stablecoins,” he said.

Global Trends and Domestic Considerations

The ongoing debate in South Korea comes amid significant developments in stablecoin regulation internationally. In the United States, the recent passage of the GENIUS Act, which aims to regulate and encourage the use of dollar-pegged stablecoins, has intensified discussions around the role of these digital assets in both domestic and global financial systems.

As of today, crypto stablecoins collectively represent over $260 billion in market capitalization, with more than $253 billion of that in US dollar-pegged tokens, according to CoinGecko data.

The South Korean Ministry of Economy and Finance and the Financial Services Commission are expected to collaborate with the BOK on shaping future stablecoin policy.

Whether the country can deploy a successful KRW stablecoin strategy without escalating dollar reliance remains a central challenge moving forward.

Featured image created with DALL-E, Chart from TradingView

Основатель мексиканского конгломерата Grupo Salinas Рикардо Салинас Плиего (Ricardo Salinas Pliego) сделал смелый прогноз в отношении биткоина, заявив, что рано или поздно биткоин будет считаться более ценным активом, чем золото.

US President Donald Trump has thrown his weight behind the Senate’s stablecoin bill, calling it “pure GENIUS” and urging the House to pass it “lightning fast.”

According to his Truth Social post, the Senate “just passed an incredible Bill” that will make the US “the UNDISPUTED Leader in Digital Assets.” He left no room for tweaks or delays, insisting on “NO DELAYS, NO ADD ONS.”

Trump Urges Quick Approval

Based on reports, Trump wants a “clean” version of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act to sail through the House.

He warned members like Congressman French Hill against altering the Senate text or folding it into a larger crypto package. The Senate approved the bill one day before his post, setting a clear deadline: get it to my desk “ASAP.”

House Faces Important Choice

Representatives are weighing two paths. They can approve the Senate bill as is or merge it with a broader set of crypto rules. French Hill and other House Republicans backed a similar measure in April, but this version has key differences on reserve requirements and registration steps.

Some worry that a standalone vote could undercut efforts to address token securities, DeFi and exchange oversight all at once.

Senate Seeks Early Win

Senator Bill Hagerty, the bill’s sponsor, told reporters he hopes to send the GENIUS Act to Trump before July 4th. He warned that if the House adds “market structure” language, the entire package would need to return for more Senate review.

Months of tough talks in the upper chamber narrowly secured enough GOP support—and some Democratic votes—to pass the legislation under the 60‑vote threshold.

Competition With Other Jurisdictions

According to industry experts, clear US rules could help stablecoin issuers like Circle and Paxos avoid a patchwork of state licenses. The EU, Singapore and Hong Kong are already drafting their own frameworks. Without swift action, these firms may relocate overseas, taking banking ties and talent with them.

Based on reports from crypto groups, lobbyists have ramped up calls for federal clarity. Some warn that piecemeal bills could leave gaps in reserve audits or consumer protections. Others argue a narrow stablecoin law is better than none—and could pave the way for broader reforms later this year.

Featured image from Unsplash, chart from TradingView