According to Bloomberg, referring to a high -ranking official of Korea Bank, the Central Bank will suspend work on testing its own digital currency (CBDC) to focus on the development of stabilcoins provided by the star.

The second stage of the pilot project with a digital volume was scheduled for the fourth quarter of 2025. The developers wanted to test the digital currency of the Central Bank for single -rat transfers and making payments. However, later banks expressed concern about the high costs of implementing the project and the lack of a clear plan for the commercial use of digital won.

Therefore, the Central Bank decided to suspend the work on CBDC and concentrate on creating a regulatory framework for stablecoins tied to Korean Vena. It is necessary to determine the requirements for licensing of emitters of stablecoins, as well as the rules for managing reserves and protecting users. Earlier, the ruling democratic party of the country proposed a bill, according to which stablecoins can be produced by companies with joint -stock capital of 500 million won ($ 370,000), after the approval of regulatory authorities.

The authors of the bill argue that the local cryptocurrency market depends on the USDT and USDC stablecoins tied to the US dollar. The dominance of foreign tokens can undermine the country’s internal financial policy, legislators are afraid. Therefore, stablecoins should be attached to Vena – this is a necessary condition for maintaining the monetary sovereignty of South Korea.

The head of the Min Byeong-deok, digital assets committee, warned that South Korea could be inactive in the leadership in the field of stablecoins. The market can even surpass artificial intelligence (AI), so you need to work out the rules for their release and regulation as soon as possible, added Min Benchi. The eight largest banks in the country, including KB Kookmin, Shinhan, Woori and Nonghyup, have already launched a joint initiative to create a stabilcoin tied to Korean wan.

Recently, the senior deputy manager of Korea Ryu Sang-Dai (Ryoo Sang-Dai) suggested launching stablecoins through adjustable commercial banks so that such crypto activists would not have a negative impact on the country’s credit and money policy.