The new governor of South Korea's central bank promises to promote CBDC and deposit tokens, but questions their stance on stablecoins.

Deep Tide TechFlow News: On April 21, according to The Block, South Korea’s new central bank governor Shin Hyun-song delivered his inaugural speech on April 21, pledging to promote the development of central bank digital currency (CBDC) and deposit tokens, and to expand related applications through the second phase of the “Han River Project,” while also taking part in global collaborations such as Project Agora to strengthen the Korean won’s position in the global payments system.

It is noteworthy that Shin Hyun-song did not mention a Korean won stablecoin in his speech, even though South Korean lawmakers are actively pushing forward the “Digital Asset Basic Act” to establish a legal framework for stablecoins. Discussions are expected to resume after the June 3 regional elections. Shin Hyun-song previously held a negative view of stablecoins during his tenure at the Bank for International Settlements (BIS), saying that stablecoins cannot replace currency. However, reports indicate his stance has changed, stating that a Korean won stablecoin should coexist with CBDC.