Bank of Korea surveys financial firms on cryptocurrency risks

Bank of Korea cryptocurrency risk financial stability South Korea digital assets

The Bank of Korea has launched its first reported survey to assess how South Korean financial institutions are exposed to cryptocurrency market risks. The inquiry, which began on October 23, targets 18 banks and 13 brokerages, including major lenders such as KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup.

The central bank is utilizing scenario-based stress testing to evaluate potential systemic impacts. Specific scenarios include a major hack causing South Korea’s largest cryptocurrency exchange to suspend operations, a steep and sustained crash in cryptocurrency prices, and the potential for contagion if another financial institution suffers heavy losses due to virtual asset volatility.

Beyond market shocks, the survey gathers data on each institution’s crypto-related staffing, budgets, business activities, and motivations for entering the market. It also requests details regarding the amounts invested in both domestic and overseas cryptocurrency companies. This review comes as South Korean firms continue to pilot stablecoin services despite ongoing regulatory delays regarding the Digital Asset Basic Act.

Entities

Bank of Korea · Binance · Hana Bank · KB Financial Group · KB Kookmin Bank · Kakao Pay · Shinhan Bank · South Korea · Woori Bank

Claims

What the coverage asserts, and how many sources carry each claim.

[● 6 SOURCES] The Digital Asset Basic Act faces delays due to institutional disagreements. news.trijo.co · cointelegraph.com · bitnewsbot.com · blockonomi.com
[● 4 SOURCES] KB Financial Group completed a won-denominated stablecoin pilot in May 2026. news.trijo.co · cointelegraph.com · bitnewsbot.com
[● 10 SOURCES] The Bank of Korea began surveying 18 banks and 13 brokerages on October 23. news.trijo.co · cointelegraph.com · www.tfmedia.co.kr · bitnewsbot.com · thecoinrise.com · +3 more
[● 6 SOURCES] Institutions were asked about their crypto-related staffing, budgets, and business activities. news.trijo.co · cointelegraph.com · bitnewsbot.com · blockonomi.com
[● 6 SOURCES] The survey probes exposure to market crashes and contagion from losses at other financial institutions. news.trijo.co · cointelegraph.com · bitnewsbot.com · blockonomi.com
[● 6 SOURCES] The review includes scenarios regarding a major hack on South Korea’s largest cryptocurrency exchange. news.trijo.co · cointelegraph.com · bitnewsbot.com · blockonomi.com
[● 6 SOURCES] The survey is the central bank’s first reported review of financial institutions’ participation in the virtual asset market. news.trijo.co · cointelegraph.com · bitnewsbot.com · blockonomi.com
[● 6 SOURCES] The survey asks for amounts invested in domestic and overseas cryptocurrency companies. news.trijo.co · cointelegraph.com · bitnewsbot.com · blockonomi.com