The President of South Korea has posed a tough question to the BIS regarding the central bank governor; this Director Shin is indeed a staunch opponent of stablecoins, having openly stated that the South Korean won stablecoin is merely a shortcut to bypass foreign exchange controls.
This operation smells too strong, a typical case of 'saying support with the mouth, but the body is very honest.' During the presidential campaign, there was an attempt to use stablecoins for narrative building, but it is clear that this returnee is here to focus on defense. A seasoned financial elite from the BIS, who values monetary sovereignty and financial stability above all. With the big hat of capital outflow placed on them, the major South Korean companies that have been waiting for compliance integration for half a year will likely continue to see delays. With such a 'watchdog' guarding the liquidity gates, legal currency inflow channels are inevitably going to be repeatedly hammered. Although retail investors in South Korea are vigorous, the cold water from policy measures is indeed quite chilling. #SouthKorea #Stablecoins #MacroeconomicAnalysis #BIS $BTC
