Bank of Korea: CBDCs Are Fiat Currency Not Virtual Assets
Some legal changes would be needed before a potential central bank digital currency launch in South Korea, research indicates.
The Bank of Korea is looking for a technology supplier to explore a digital currency in a test environment.
The Bank of Korea hopes to start as early as September, an official said.
The central bank governor has pledged to monitor transactions of Korea's financial institutions associated with leveraged crypto trading.
Bank of Korea Governor Lee Ju-yeol says once central bank digital currencies (CBDC) are introduced, the demand for cryptocurrencies like bitcoin fall.
Bank of Korea Governor Lee Ju-yeol isn’t bullish on bitcoin, but he sees potential in a central bank digital currency (CBDC), if it’s done right. Speaking at a press conference on Thursday, Lee said that when it comes to a CBDC, it’s better to do it right than do it fast, citing the cautious approach […]