Crypto industry eyes new BOK nominee's stance on stablecoins, CBDCs

The nomination of Shin Hyun-song, head of the Monetary and Economic Department at the Bank for International Settlements (BIS), as the new governor of the Bank of Korea has the local virtual asset industry expressing both hope and concern over future stablecoin and central bank digital currency (CBDC) policies, Etoday reported. At the World Congress of Economists (ESWC 2025) last August, Shin voiced concerns that won-based stablecoins could weaken foreign exchange regulations. Conversely, given that he led related research during his tenure at the BIS, the Bank of Korea's ongoing deposit token pilot, 'Project Han River,' is expected to maintain its momentum.