South Korea’s debate over digital money is accelerating—from central bank digital currency (CBDC) pilots to bank ‘deposit tokens’ and proposals for a won-denominated stablecoin. Yet beneath the technological momentum lies a more basic constraint: none of the leading contenders can become an everyday retail payment instrument without meaningful legal and regulatory change, leaving the country in what critics describe as a ‘no man’s land’ for digital currency.
The clash is increasingly visible as policymakers and industry groups promote competing visions of ‘future money’ while the legal… Read more







