Shin Huyn-song, nominated to lead the Bank of Korea, advocates for a central bank digital currency (CBDC) and bank-issued deposit tokens as the foundation of South Korea's digital currency system. In remarks submitted to parliament ahead of his confirmation hearing on April 15, he stressed the importance of strict anti-money laundering (AML) and compliance controls. Shin expressed skepticism about the role of cryptocurrencies as money and their potential to enhance foreign exchange efficiency. He envisions a coexistence of CBDCs and stablecoins, but sees the latter as secondary tools primarily for trading tokenized assets. His comments align with the Bank of Korea's position that stablecoin issuance should be regulated and initiated by established banks. The central bank has raised concerns about the risks posed by privately issued tokens to monetary policy and financial stability, advocating for stringent oversight. Shin's views come amid ongoing discussions among policymakers regarding the regulation of digital currencies, with some lawmakers proposing broader frameworks that would allow non-bank issuers.