South Korea's central bank has launched a survey targeting 18 banks and 13 securities firms to assess their progress in entering the virtual asset market and evaluate associated risks. The Bank of Korea sent requests on October 23 to major institutions including KB, Shinhan, Hana, Woori, and NH NongHyup, asking them to participate in a "survey on the current status of financial institutions' entry into the virtual asset market."
The questionnaire covers organizational structures and budgets dedicated to virtual assets, current market entry status, business risk assessments, and risk management measures. It also examines potential systemic impacts from scenarios such as a large-scale hack at South Korea's largest domestic crypto exchange, sharp declines in Bitcoin prices, continued contraction in trading volumes, or major losses suffered by other financial institutions due to virtual asset-related incidents.
Bank of Korea Surveys 31 Financial Institutions on Virtual Asset Market Entry Plans
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