Park Sang-won, head of the Financial Security Institute "Will actively support safe stablecoin transactions"

Park Sang-won, head of the Financial Security Institute, said on the 16th, "We will actively support creating a safe stablecoin environment, including security verification."

The Financial Security Institute on the same day distributed a report analyzing the Hong Kong Monetary Authority's 'Guideline on the Supervision of Stablecoin Issuers'. The guideline stipulates the issuer's obligations such as △minimum capital requirements △reserve management △risk management.

In particular, the stablecoin security measures included token·wallet·private key management and account management, and it specified that, in the case of smart contracts, a qualified third party must perform vulnerability verification annually.

The Financial Security Institute emphasized, "For stablecoins to become a major payment and settlement method, a strong security control system is necessary along with an institutional foundation."