The Bank of Korea establishes a "Virtual Asset Group" and adjusts the digital currency department.

According to news1, as discussions about the South Korean won stablecoin continue to heat up, the Bank of Korea recently established a "Virtual Asset Group" and renamed the "Digital Currency Research Office" to the "Digital Currency Office" in order to strengthen the relevant organizational structure. This adjustment aims to more effectively respond to the latest trends in the issuance of central bank digital currencies and stablecoins. The newly established Virtual Asset Group will be responsible for monitoring the market and legislative progress of the South Korean won stablecoin and other virtual assets. The Digital Currency Office will be subdivided into two major teams - technology and infrastructure, each responsible for digital currency-related technology development and platform construction. The Bank of Korea stated that it will continue to advance work related to central bank digital currencies (CBDCs) and actively address the challenges brought by the development of private stablecoins.