The Bank of Korea has launched a survey of 18 banks and 13 securities firms to assess how disruption in the cryptocurrency market could affect financial institutions and the broader financial system. The questionnaire examines firms’ crypto-related investments, staffing, budgets, organizational structures, dedicated virtual-asset teams, business activities, market-entry rationale and risk-management practices. It presents scenarios including a major exchange hack and temporary shutdown, a sharp Bitcoin decline followed by prolonged weak trading, and heavy losses at another financial institution that could trigger contagion. Respondents, including KB Kookmin, Shinhan, Hana, Woori and NH NongHyup, have until November 4. The review follows the Bank of Korea’s June 2026 Financial Stability Report, which warned of growing links between digital-asset and traditional financial markets. It comes as South Korea debates bank-led stablecoin issuance and lawmakers consider the proposed Digital Asset Basic Act. The survey does not itself establish new requirements, while regulators are separately tightening cybersecurity oversight after identifying deficiencies at 130 of 555 financial companies. The review also began before the $6.3 billion Binance hack that US authorities attributed to North Korean hackers.