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š°š· JUST IN: The Bank of #Korea plans to actively contribute to upcoming #stablecoin regulations, warning their use as payments could impact monetary policy.
#BankOfkorea #Stablecoin
$SOL $BTC $BNB
#BankOfkorea #Stablecoin
$SOL $BTC $BNB
Bank of Korea Takes the Lead on Stablecoin Regulation as Crypto Adoption Surges
As over 35% of South Korea's population engages in crypto trading, the Bank of Korea (BOK) is stepping up to address the growing financial and regulatory implications. In its latest payments report, the central bank emphasized the urgent need for clear stablecoin regulations, warning that the unchecked expansion of fiat-pegged digital assets could disrupt monetary policy and payment systems.
The BOK is actively contributing to South Koreaās evolving crypto legislative framework, working alongside the Financial Services Commission (FSC) on a second phase of regulation that will cover stablecoins, token transparency, and enhanced oversight of crypto service providers.
At the same time, the central bank is advancing its CBDC pilot, with phase two set to test real-world peer-to-peer payments later this yearāmarking a significant step in exploring state-backed alternatives to private stablecoins.
By combining innovation with regulatory clarity, South Korea is emerging as a global model for responsible crypto governance.
#Stablecoins #CBDC #BankOfKorea #CryptoRegulation
Read more on Ecoinimist: www.ecoinimist.com/2025/04/21/bank-of-korea-stablecoin-push/
As over 35% of South Korea's population engages in crypto trading, the Bank of Korea (BOK) is stepping up to address the growing financial and regulatory implications. In its latest payments report, the central bank emphasized the urgent need for clear stablecoin regulations, warning that the unchecked expansion of fiat-pegged digital assets could disrupt monetary policy and payment systems.
The BOK is actively contributing to South Koreaās evolving crypto legislative framework, working alongside the Financial Services Commission (FSC) on a second phase of regulation that will cover stablecoins, token transparency, and enhanced oversight of crypto service providers.
At the same time, the central bank is advancing its CBDC pilot, with phase two set to test real-world peer-to-peer payments later this yearāmarking a significant step in exploring state-backed alternatives to private stablecoins.
By combining innovation with regulatory clarity, South Korea is emerging as a global model for responsible crypto governance.
#Stablecoins #CBDC #BankOfKorea #CryptoRegulation
Read more on Ecoinimist: www.ecoinimist.com/2025/04/21/bank-of-korea-stablecoin-push/
Bank of Korea Declines Bitcoin for Foreign Exchange Reserves
The Bank of Korea (BOK) has officially announced that Bitcoin does not meet the criteria for inclusion in its foreign exchange reserves. The central bank cited significant price volatility and liquidity concerns as primary reasons for this decision, emphasizing that such instability could lead to increased transaction costs when converting Bitcoin to cash, thereby posing substantial risks to the nation's reserves.
Additionally, the BOK highlighted that Bitcoin fails to satisfy the International Monetary Fund's (IMF) standards for foreign exchange reserves. The IMF requires reserve assets to be liquid, marketable, and possess investment-grade credit ratingsācriteria that Bitcoin does not fulfill due to its erratic nature.
This clarification comes amid discussions within South Korea regarding the potential inclusion of Bitcoin in national reserves. Financial experts and industry leaders have suggested exploring this avenue, especially following similar considerations by other countries. However, the BOK's recent statement underscores a cautious approach, prioritizing the stability and security of the nation's foreign exchange reserves.
As of today, Bitcoin (BTC) is trading at $83,346.00, reflecting a 0.79% increase from the previous close. The intraday high reached $84,692.00, while the low was $82,019.00.
#BankOfKorea #bitcoin #ForeignTaxService #cryptocurrency #IMFStandards $BTC
Additionally, the BOK highlighted that Bitcoin fails to satisfy the International Monetary Fund's (IMF) standards for foreign exchange reserves. The IMF requires reserve assets to be liquid, marketable, and possess investment-grade credit ratingsācriteria that Bitcoin does not fulfill due to its erratic nature.
This clarification comes amid discussions within South Korea regarding the potential inclusion of Bitcoin in national reserves. Financial experts and industry leaders have suggested exploring this avenue, especially following similar considerations by other countries. However, the BOK's recent statement underscores a cautious approach, prioritizing the stability and security of the nation's foreign exchange reserves.
As of today, Bitcoin (BTC) is trading at $83,346.00, reflecting a 0.79% increase from the previous close. The intraday high reached $84,692.00, while the low was $82,019.00.
#BankOfKorea #bitcoin #ForeignTaxService #cryptocurrency #IMFStandards $BTC
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