South Korea2026.10.23Digital Asset

Government and Bank of Korea Push to Amend Foreign Exchange Transactions Act to Regulate Stablecoins as a Means of Payment

• The Bank of Korea disclosed the plan in its response to corrective action requests from the 2025 National Assembly parliamentary audit, released October 22.
• The BOK and the government are jointly preparing an amendment to the Foreign Exchange Transactions Act this year to regulate stablecoins as a means of payment and to govern cross-border virtual asset transactions.
• The BOK is also preparing to build a virtual asset monitoring system, including reporting via the foreign exchange computer network, following a related request from the National Assembly during last year's audit.