# Crypto News, Oct 12, 2026: Bank of Korea governor says private firms, not the central bank, should run stablecoins

> Testifying to lawmakers on October 12, 2026, the Bank of Korea's governor said stablecoins belong in the private sector while the central bank advances…

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- **Updated:** 2026-10-12
- **Category:** news
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## Key data

- **Desk:** Crypto
- **Date:** Mon, Oct 12, 2026
- **Stories:** 6
- **Outlets cited:** 10
- **Items screened:** 12
- **Freshness:** last 48h

Testifying to lawmakers on October 12, 2026, the Bank of Korea's governor said stablecoins belong in the private sector while the central bank advances Project Hangang. He also flagged risks in dollar-stablecoin crypto cards. ## Bank of Korea backs private stablecoins, warns on overseas crypto cards At a parliamentary audit in Seoul on October 12, 2026, Bank of Korea Governor Hyun Song Shin said stablecoins should be issued and operated by private companies, while the central bank keeps a voice on monetary stability and payments. He separated them from Project Hangang, which pairs institutional digital …

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## Sources

1. [Bank of Korea won't issue stablecoins: Here's why](https://crypto.news/bank-of-korea-wont-issue-stablecoins-heres-why)
2. [South Korea's BOK Chief Shin Hyun-song Flags Risks in Dollar-Stablecoin-Based Crypto Cards, Vows Close Monitoring — BigGo Finance](https://finance.biggo.com/news/c1305da8-732c-469c-91b9-c6953ec9ced9)
3. [BOK Governor Rhee Flags Risks of Overseas Crypto Cards Evading Rules, Vows Close Monitoring](https://en.bloomingbit.io/feed/news/121993)
4. [Global watchdog flags stablecoin risks, AI threats ahead of G20 — TradingView News](https://www.tradingview.com/news/cointelegraph:02fc568e2094b:0-global-watchdog-flags-stablecoin-risks-ai-threats-ahead-of-g20)
5. [Bitcoin, Ethereum, XRP, Dogecoin Rise as ‘Greed’ Persists: Analyst Says BTC Bulls Must Get ‘Moving’ From This Area — Noticias de TradingView](https://es.tradingview.com/news/benzinga:14cb665f0094b:0-bitcoin-ethereum-xrp-dogecoin-rise-as-greed-persists-analyst-says-btc-bulls-must-get-moving-from-this-area)
6. [Bitcoin rises 1.37% to $84,186 despite overall ...](https://pluang.com/en/news-feed/kap-pasar-kripto-turun-235-saat-bitcoin-naik-137-ke-84186)
7. [Should You Buy Bitcoin or XRP Right Now? The Case for Each](https://finance.yahoo.com/markets/crypto/articles/buy-bitcoin-xrp-now-case-163008052.html)
8. [Bitcoin, Ethereum Struggled Last Week, But This Token Doubled Its Market Cap in 4 Days on Layer-1 Buzz](https://www.benzinga.com/crypto/cryptocurrency/26/10/62290908/bitcoin-ethereum-struggle-layer-1-token-market-cap-doubles-four-days)
9. [Stablecoin Regulation: France to Tax Swaps from 2027](https://www.onesafe.io/blog/france-stablecoin-regulation-swap-tax-2027)
10. [OCC’s Stablecoin Trust Bank Charters Violate “Major Questions Doctrine,” ICBA Suit Argues](https://fintechbusinessweekly.substack.com/p/occs-stablecoin-trust-bank-charters)

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