Bank of Korea’s new chief vows to push CBDC, deposit tokens; leaves out stablecoins
The Block·60-word summary·1 min read
Bank of Korea's new governor, Shin Hyun-song, has committed to advancing the country's central bank digital currency (CBDC) and deposit tokens, while notably excluding stablecoins from the focus. Shin, who previously expressed skepticism about stablecoins during his time at the BIS, aims to prioritize digital won initiatives, signaling a shift toward official digital currency development without emphasizing stablecoin regulation.
The Bank of Japan warned on April 21, 2026, about hedge fund risks threatening bond market stability, citing potential volatility and liquidity concerns. The warning emphasizes the fragility of global financial systems, highlighting the need for caution amid ongoing market uncertainties. This alert underscores the importance of monitoring hedge fund activities to maintain market stability.
KelpDAO hackers are laundering approximately $290 million in stolen crypto across multiple blockchains, according to recent data. The hackers are utilizing privacy tools to obscure their transactions amid growing concerns of DeFi sector contagion. The illicit activity highlights ongoing security challenges within the decentralized finance ecosystem as authorities and platforms seek to address the theft.
Bank of Korea's new governor Shin Hyun-song supports CBDCs and deposit tokens, emphasizing digital currency development. Stablecoins were not mentioned. This marks Korea's continued interest in central bank digital currencies, aligning with global trends toward digital fiat. The focus remains on CBDC infrastructure, with no immediate plans for stablecoin regulation.
A consortium of twelve banks, including BBVA, BNP Paribas, and UniCredit, is collaborating with Fireblocks to develop a euro stablecoin. The Qivalis project aims to launch the stablecoin, backed by these major financial institutions, reflecting growing institutional interest in decentralized finance solutions within the eurozone. The initiative underscores the banking sector’s move toward digital asset integration.
The Bank of Japan warned of uneven oil impacts and limited Middle East lending by major banks, signaling potential global economic instability. The warning, issued on April 21, 2026, emphasizes the need for vigilance amid geopolitical tensions and financial market fluctuations. While not directly related to DeFi, the alert underscores ongoing macroeconomic risks affecting the broader financial landscape.
Senator Thom Tillis has urged the U.S. Senate Banking Committee to delay the markup of the CLARITY Act crypto bill until May, citing the need for more time to negotiate a stablecoin yield compromise between banks and the crypto industry. The delay aims to facilitate better discussions before advancing the legislation.
