TechFlow News, March 28: According to the UK’s Financial Times, South Korean President Lee Chang-min has nominated Shin Hyun-song—Director of the Monetary and Economic Department at the Bank for International Settlements (BIS) and a “pragmatic hawk”—as the candidate for Governor of the Bank of Korea. Reportedly, Shin opposes the Lee administration’s push to peg the won to stablecoins, arguing that in countries experiencing sharp exchange-rate volatility and vulnerable to capital outflows, stablecoins could easily become tools for capital flight—and stablecoins pegged to domestic currencies could accelerate this trend.
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