The South Korean Central Bank reveals the “encryption management” star-news.press/wp

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Tim Alper

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Tim Alper

About the author

Tim Alper is a British journalist and a work feature writer in Cryptonews.com since 2018. He has written for media outlets such as BBC, Guardian, and Chosun Ilbo. He also worked …

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July 29, 2025

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The Central Bank of South Korea announced that it will reorganize its structure to include the “encryption department” as a wave of activity related to the public sector that continues to build momentum.

South Korean media News1 I mentioned that the Bank of Korea has established a new section called “Cryptoasset”.

Cryptoassets section: a new BOK section for the coding sector monitoring

BOK also announced that the digital currency research laboratory, which works in the Financial Settlement Office, will be renamed the digital currency laboratory on July 31. News1 explained:

“This seems to be an attempt to confirm its position as a business unit.”

The bank added that it has been reorganized the roles of the teams that make up the laboratory, and will appoint employees to test the symbolic use of use.

BOK said that the management of its Cryptoasset team will work within the Financial Settlement Office.

He said that this section will be responsible for monitoring the encryption market. Its jurisdiction will also include Korean Stablecoins and legislative issues.

The media wrote that experts have interpreted the amendment as “an attempt to better respond to recent discussions about Stablecoin, while continuing to work on its digital bank’s digital currency (CBDC).”

CBDC plans on ice?

BOK has recently hit the temporary stop button on CBDC operating plans, apparently in a direct response to government codification plans of government.

It seems that the bank believes that the distinctive codes of the deposit based on the Convention on Biological Diversity are not different from the bank -backed KRW Stablecoins.

Bok Rhee Chang-Yong said last year that the distinctive deposit symbols are mainly “stablecoins issued by banks.” Rey said earlier this month:

“Regardless of whether we are talking about distinctive symbols of his victory or a deposit code, we will need a digital currency in the future. We will carefully look if it is better to gradually proceed with a focus on the banking sector or expand this to the broader private sector.”