BlockBeats News, July 9th. The Bank of Korea (BOK) submitted its latest opinion to the National Assembly's Finance Committee, once again emphasizing that a Korean won stablecoin should be issued primarily by a banking alliance. It also suggested establishing a statutory policy coordination mechanism involving relevant regulatory agencies to strengthen the stablecoin issuance and regulatory framework. The Bank of Korea stated that this stance aims to safeguard financial stability and once again highlights its disagreement with some in the political and industry sectors on the issue of the stablecoin issuing entity.

At the same time, the Bank of Korea announced that it will continue to advance its deposit token pilot in the second half of this year. It plans to apply it to government subsidy distribution, consumer vouchers, electric vehicle charging payments, and more real-world commercial scenarios. Deposit tokens are a tokenized form of commercial bank deposits and are seen as a key direction for South Korea's tokenized finance initiative.

Due to long-standing disputes over core issues such as stablecoin issuance qualifications, the legislative process of South Korea's "Digital Asset Basic Law" continues to be sluggish. The Bank of Korea has always advocated for banks to maintain a controlling position as stablecoin issuing entities. The incorporation of stablecoins, RWAs, and other digital assets into the existing financial regulatory framework remains a major point of contention in South Korea's digital asset legislation.