South Korea Considers Bitcoin Reserve and National Stablecoin
South Korean financial experts and opposition lawmakers have proposed incorporating Bitcoin into the country’s national reserves and launching a won-backed stablecoin.
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The initiatives were discussed on Wednesday at a forum organized by the opposition Democratic Party in the National Assembly building.
The key topic of the event was South Korea’s potential response to the U.S. initiative to establish a national Bitcoin reserve.
On March 6, President Donald Trump signed an executive order to establish a Digital Asset Stockpile. The following Friday, the White House hosted its first crypto summit, where Trump outlined his strategy for the industry's development. The event brought together prominent industry figures, including MicroStrategy Chairman Michael Saylor and Coinbase CEO Brian Armstrong.
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South Korea Seeks a Strategy Amid Global Shifts
South Korean policymakers and business leaders stressed the importance of establishing a clear national stance on cryptocurrency.
South Korea will need to respond with a clear policy,
said Kim Jong-seung, CEO of blockchain company xCrypton.
The discussion took place amid growing interest in incorporating digital assets into national reserves. In Asia, Hong Kong has already announced plans to strengthen its position in digital finance, while Japan is considering a proposal to establish a national Bitcoin reserve.
According to analysts, global trade wars and tariff restrictions continue to play a crucial role in shaping interest rates and liquidity, making them a key factor for countries in the region.
Related: South Korean Crypto Exchanges Conduct Stress Tests for Crises
Regulatory Restrictions and the Need for Reform
South Korea still enforces strict regulations on cryptocurrency trading. Foreigners are banned from using South Korean exchanges, forcing local traders to turn to international platforms.
I think Korea, in general, is slower than most, as we’ve just approved corporate accounts for crypto, and BTC and ETH ETFs are still not allowed to be traded,
said Min Jung, an analyst at Singapore-based Presto Research.
In addition to discussing a Bitcoin reserve, the forum addressed the need for a stablecoin pegged to the South Korean won. Experts warn that without a national digital currency, South Korea risks losing financial sovereignty if dollar-backed stablecoins become dominant in the economy.
Moreover, policymakers argue that to maintain stability in international trade, South Korea must develop a system that effectively integrates dollar stablecoins with won-pegged digital assets. This strategy would reduce dependence on foreign digital currencies.
Related: Crypto Regulations in South Korea: Key Features
Political Context
Kim Min-seok, head of the Democratic Party’s policy committee, emphasized that his party intends to revise cryptocurrency regulations if it gains power.
South Korea’s political landscape remains uncertain. If President Yoon Suk Yeol’s impeachment is upheld, new elections could take place in May, opening the door for a potential reassessment of financial policies and the integration of digital assets into national reserves.
As a result, South Korea faces a pivotal choice—whether to continue its cautious stance on cryptocurrencies or accelerate reforms to keep pace with global trends.
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