The Bank of Korea has established a new virtual asset team under the Financial Payment Bureau

According to Yonhap News Agency, in response to legislative discussions on stablecoins based on the Korean won, the Bank of Korea (PBOC) has decided to establish a new "Virtual Asset Group" under the Financial Payment Bureau. In addition, it has been decided to change the name of the Digital Currency Research Room under the Financial Payment Bureau to the Digital Currency Room. An official from the Bank of Korea stated, "We will address discussions related to stablecoins and virtual assets through a virtual asset group, and collaborate with the government, parliament, and others during the legislative process