스테이블코인 제도화에 대한 한국의 정책적 접근 -글로벌 규제 동향과 자본유출 방지 관점에서의 고찰- = Korea’s Policy Approach to Stablecoin Institutionalization -A Perspective on Global Regulatory Trends and Capital Outflow Prevention-

다국어 초록 (Multilingual Abstract)

This study analyzes the structural impact of the global expansion of U.S. dollar-based stablecoins on Korea’s monetary sovereignty, foreign exchange market stability, and capital flow control capacity. It examines the concept and structure of stablecoins, along with institutionalization cases in major countries including the United States, Japan, the United Kingdom, and Singapore. The paper reviews the current status of Korea’s Central Bank Digital Currency (CBDC) initiative and highlights the regulatory gaps and conflicts in the domestic legal framework. Based on this, it identifies the international limitations and technical constraints of CBDC, and argues for the necessity of institutionalizing private-sector-led stablecoins as a complementary strategy. Furthermore, the study explores the policy feasibility of integrating stablecoins with Korea’s foreign exchange control system in real time and proposes a strategic transition in which Korea actively participates in the global stablecoin ecosystem as a “rule setter” of digital currency infrastructure. Ultimately, the paper emphasizes the need for a multilayered response strategy that integrates technology, institutional reform, and international cooperation.