Bank of Korea sees no need to generate a Central Bank Digital Currency (CBDC), an official shared the regulator’s position. Despite the overwhelming presence of cryptocurrency projects in South Korea, the country’s central bank is skeptical of the drive for CBDCs.
Bank of Korea Warned Against Speculations for Launching CBDC
Bank of Korea, however, will continue its exploration of digital assets and the potential for CBDCs. The bank has recently opened a dedicated research department, reported The News Asia. With this move, Bank of Korea is joining the global trend of central banks dedicating resources to exploring the potential for blockchain-based assets.
Official Eun Han, however, shared that Korea already had a well-established electronic payment system, and there was no pressing need for CBDCs. Indirectly, Han in fact stated…
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