Bank of Korea Forms New Virtual Asset Team as Stablecoin Rules Advances
Main Idea
The Bank of Korea (BOK) is establishing a new Virtual Asset Team to oversee the crypto market and assist with policy discussions, alongside internal structural changes to focus on digital currency research and infrastructure.
Key Points
1. The Bank of Korea (BOK) is forming a Virtual Asset Team to monitor the crypto market and contribute to policy discussions.
2. The BOK has renamed internal teams, including the Digital Currency Technology Team for research and the Digital Currency Infrastructure Team for development.
3. South Korea's political landscape shows support for stablecoins and crypto ETFs, with recent proposals from major political parties.
Description
The Bank of Korea (BOK) is setting up a new Virtual Asset Team to watch over the crypto market and help with policy discussions, Yonhap News reported on July 29 .
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