Bank of Korea probes financial firms' crypto risk exposure amid stablecoin testing

The Bank of Korea has launched its first survey of 18 banks and 13 brokerages to assess cryptocurrency-related risks, asking how firms would be affected by exchange hacks, market crashes or heavy losses at other institutions. The survey, which began Oct. 23, covers crypto staffing, budgets, business activities and domestic and overseas crypto investments. It comes as South Korean firms including KB Financial Group and Kakao Pay continue testing stablecoin services despite regulatory delays.