Bank of Korea withholds data behind stablecoin risk assessment

The Bank of Korea has declined to release the empirical domestic market data it used to identify seven major risks associated with the introduction of stablecoins in South Korea, Bridge Economy reported exclusively. Last October, the central bank issued a report outlining risks for a potential won-denominated stablecoin and expressed a negative view on its introduction. However, the bank also noted that many of these risks could be managed within the existing regulatory framework and clarified that it is not opposed to the institutionalization of stablecoins. The Bank of Korea stated that the data served as a basis for its risk assessment and cannot be disclosed because it was obtained under non-disclosure conditions.