Bank of Korea Governor Proposes Unified Ledger Framework on July 1, Rejects Private Stablecoins

According to Yonhapinfomax, Bank of Korea Governor Shin Hyun-song on July 1 proposed a 'Unified Ledger' framework as the blueprint for future monetary systems. The model comprises institutional central bank digital currency, commercial bank deposit tokens, and tokenized assets, intended to maintain central trust architecture while integrating new blockchain technology.

Shin rejected private stablecoins, stating they lack the 'singularity' essential to currency function. However, market critics argue the proposal diverges from global trends and introduces security vulnerabilities. KRWQ COO Dave Shin emphasized that centralized systems relying on complete API openness among banks expose significantly greater security risks compared to decentralized networks where multiple stablecoin issuers operate independently across multiple chains.