Bank of Korea surveys 31 firms on crypto risks
Key points
- The Bank of Korea has launched its first survey examining financial institutions’ exposure to cryptocurrency risks.
- The review covers 18 banks and 13 securities firms, including South Korea’s five major lenders.
- The central bank is assessing potential losses from exchange hacks, falling crypto prices and market disruption.
The Bank of Korea has launched its first survey of 31 financial institutions examining their entry into the virtual-asset market and related risks, according to a report by The Herald Business.
The review covers 18 banks and 13 brokerages, with responses examining current operations, investment plans and risk controls.
“Financial institutions are making their own preparations even as virtual asset legislation is moving more slowly than the market expected,” A Bank of Korea official said in a statement.
The survey examines potential financial-sector disruption if South Korea’s largest cryptocurrency exchange suspends operations following a major cyberattack.
The central bank also asks how prolonged trading declines could affect firms after sharp falls in cryptocurrency prices.
The review follows the BOK’s June Financial Stability Report, which highlighted growing links between digital assets, stock markets and foreign-exchange flows.
A separate BOK report on won-denominated stablecoins warned of potential collateral shortfalls, short-term interest-rate volatility and financial contagion through stablecoin runs.
Financial institutions must submit their survey responses by 4 November 2026, with the BOK planning to use the findings for internal assessment.
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