Bank of Korea Launches New Cryptoassets Department

The Bank of Korea (BOK) has officially announced the establishment of a Virtual Asset Division, also referred to as the Cryptoassets Department or the Virtual Asset Group. The new structure operates under the Financial Payment Systems Bureau and is tasked with monitoring the crypto industry and participating in policy-making concerning virtual currencies and stablecoins pegged to the South Korean won (KRW).

According to local media outlet News1, the division will assess risks related to digital assets and contribute to institutional discussions on regulation. The move follows the rapid growth of digital financial technologies and the increasing interest in KRW-based stablecoins.

BOK officials believe that a dedicated structure is necessary to evaluate market trends and support the development of an effective regulatory framework. The central bank aims to strengthen its role in shaping the country's digital financial future.