In a surprising yet strategic move, Korea’s freshly minted President, Lee Jae-myung, has tapped Kim Yong-beom, the CEO of Hashed Research, to serve as the Chief Policy Officer of the Presidential Office. Announced today, June 9, 2025, this appointment underscores the administration’s burgeoning commitment to integrating digital assets into the nation’s financial ecosystem.
A New Chapter for Crypto in Korea
Kim Yong-beom, who previously held the position of Vice Minister of Economy and Finance during the Moon Jae-in administration, brings a wealth of experience to the table. His transition from a key governmental role to leading Hashed Research, the think tank arm of the prominent crypto fund Hashed, reflects his deep-seated involvement in the financial and crypto sectors. During a past conversation with CoinDesk, Simon Kim, CEO of Hashed, hinted at the Lee administration’s pro-crypto stance, noting how South Korean regulators are keenly observing U.S. crypto policy developments. The goal? To mirror effective strategies.
So, what does this mean for the crypto landscape in Korea? For starters, Kim’s appointment could signal a more favorable regulatory environment for digital currencies. Analysts suggest that Kim’s dual expertise in traditional finance and blockchain could serve as a bridge between established financial systems and the emerging crypto world.
Won-based Stablecoin on the Horizon?
One of the most intriguing prospects under Kim’s new role is the potential development of a Won-based stablecoin. President Lee has highlighted this initiative as a top priority, aiming to “prevent national wealth from leaking overseas.” Such a move could position South Korea as a frontrunner in stablecoin innovation, offering a digital currency tethered to the national currency that may streamline transactions and enhance financial inclusion. This follows a pattern of institutional adoption, which we detailed in our analysis of Visa and Baanx’s launch of USDC stablecoin payment cards.
The introduction of a government-backed stablecoin is not without its challenges, though. The endeavor would require a robust legal framework and technological infrastructure to ensure security and compliance. Yet, with Kim at the helm, the project might benefit from a balanced approach, leveraging his insights into both regulatory landscapes and blockchain technology.
Ripple Effects in the Global Crypto Market
The global cryptocurrency community is watching Korea’s moves closely. By potentially aligning its policies with those of the U.S., South Korea could influence regional crypto dynamics, encouraging neighboring countries to adopt similar strategies. “If Korea successfully implements a stablecoin, it could set a precedent for other nations,” remarked crypto analyst Sarah Chong. “We’re entering a new era where digital currencies could redefine cross-border transactions and economic sovereignty.” For a deeper dive into the regulatory implications, see our coverage of the SEC’s latest guidance on PayPal’s PYUSD.
However, this development also raises questions. Will other major economies follow suit, and how might this impact the decentralized ethos of crypto? The implications of a state-backed stablecoin could be far-reaching, challenging existing narratives around decentralized finance.
Looking Ahead
As Kim Yong-beom steps into his new role, the anticipation is palpable. His ability to navigate the complex interplay of politics, finance, and technology will be crucial in shaping Korea’s crypto policy. Yet, as with any nascent endeavor, uncertainties linger. The path forward will undoubtedly require careful calibration of ambition and practicality.
As June unfolds, the crypto community will be eager to see how Kim’s vision materializes. Will Korea emerge as a leader in the digital currency space, or will the complexities of regulation and innovation prove too formidable? Only time will tell, but one thing is certain: the eyes of the crypto world are fixed on Seoul.
Source
This article is based on: Hashed Research CEO Appointed Chief Policy Officer at Korea’s Presidential Office
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
