TechFlow News, April 13: Shin Hyun Song, candidate for Governor of the Bank of Korea, stated on April 13 that central bank digital currencies (CBDCs) and deposit tokens—issued by commercial banks based on CBDCs—should serve as the core of the digital currency ecosystem. Shin Hyun Song noted that while he supports the introduction of won-denominated stablecoins, maintaining monetary trust remains the top priority. He believes stablecoins play a positive role in areas such as asset tokenization and programmability, and may complement or compete with deposit tokens in the future. Regarding the issuing entities for won stablecoins, he recommended initially permitting bank-led consortia, followed by a gradual expansion to include non-bank institutions, to ensure compliance capabilities. On the view that stablecoins could enhance foreign exchange transaction efficiency, he emphasized the need for careful assessment of whether blockchain technology can effectively adhere to relevant regulatory requirements.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
